The landscape of student accommodation varies significantly across popular study-abroad destinations. However, one common thread is the strong demand for Purpose-Built Student Accommodation (PBSA), as highlighted in a 2023 report by ICEF Monitor. Here's an overview of the student housing scenario across popular countries among students in 2023:
United Kingdom
The UK is actively addressing a surge accommodation demand, especially in cities like London and Manchester. High costs and limited availability of housing options are the main challenges. Despite this, the demand for Purpose-Built Student Accommodation (PBSA) remains strong.
Global student housing solution providers are also collaborating with universities to offer more affordable housing solutions.
United States
In the United States, the student housing market is expected to grow by 3.4% in 2023, according to Multi-Housing News. The demand for on-campus housing is significant, however off-campus options are also exponentially increasing due to their availability, affordability, and convenience among students.
Navigating the delicate balance between cost, location, and amenities is a complex task that universities and other key stakeholders (PBSA’s, BTR’s & HMO) in the field are diligently working to accomplish.
Madhur Gujar |
Australia
Australia offers a range of accommodation options, from university halls to private rentals. Australian cities like Brisbane, Perth, and Adelaide expect zero vacancy rates for PBSA in 2023, according to a report by the Student Accommodation Council. The report also highlighted that Indian, Chinese and domestic Australian students make up more than half of all residents in PBSA.
The Australian government has also invested in Purpose-Built Student Accommodation to meet the growing demand, especially in cities like Sydney and Melbourne.
Germany
Germany offers affordable and accessible student housing, although availability can be challenging in larger cities like Berlin and Munich. As of September 2023, over 35,000 students were on the waitlist for a place in a hall of residence, according to Schengen Visa Info.
The German government is actively addressing the need for affordable housing by collaborating with numerous private providers and launching subsidised housing projects to increase the availability of student apartments.
Canada
Canada offers a variety of housing options, including on-campus dormitories and off-campus apartments according to Gocool Group. However, since the demand for student housing is high, students are advised to start their search well in advance.
Universities and private providers are collaborating to meet this demand, with a strong focus on safety and budget considerations.
New Zealand
New Zealand provides a range of options, from university halls to private hostels and shared apartments, catering to different budgets and preferences.
The country has proudly unveiled its largest student housing project recently. Even with this impressive addition, the University of Auckland reports that the demand for rooms continues to exceed the available supply.
Solutions and the Way Forward
While each country has its unique challenges in student accommodation, the overall outlook is positive. Strong demand across these nations indicates a willingness among students to adapt to market conditions.
Partnerships between government, universities and private providers could be the key in addressing accommodation challenges. Such collaboration can offer seamless and affordable solutions, particularly during critical intake periods.
The author is Chief Business Officer & Co-Founder, Amberstudent, a global student accommodation booking platform.
