Amber Beat: Global Student Accommodation Market News-January 2024, Week 01

Missed keeping track of all the latest happenings in the student accommodation market?

Amber Beat is a weekly snapshot of the key developments in top student accommodation markets.  This newsletter provides you with all the information you need to know, from new upcoming projects to current trends, news affecting students to government policies, we’ve got you covered!

Amber Beat | News from December 28, 2023- January 5, 2024

‍United Kingdom

• Unite Students signs £185M contract with RG for 719-bed Stratford student tower development in East London, expected to open doors by September 2026 (1)
• University of Oxford houses around 120 students in four-star hotels costing £150/night due to the unavailability of accommodations in Oxford (2)
• Southampton City Council approves plans to turn a part of city center into 140 student flats to ease the shortage of accommodation in nearby universities (3)
• UK home office announces implementation of dependent visa restriction starting from January 1st to prohibit students bringing dependents through study route (4)
• Kelvin Properties submits plans to build 139-studio PBSA in Glasgow's west end, property to be operated by Fresh Students if approved (5)

United States of America

• Landmark Properties acquires a 15-acre site near the University of Colorado Boulder for the development of a 936-bed student housing community, its first PBSA project in the Boulder market (6)
• TRIO Group secures a $53 million loan to develop a 13-story student housing facility with 400 beds in the 'Vox Miami’ complex near University of Miami, Coral Gables (7)
• Landmark Properties announces successful recapitalization of “The Standard at Austin”, a 934-bed student housing complex near the University of Texas, Austin (8)
• The Illinois Board of Higher Education funds $1.7 million from the "End Student Housing Security" grant to ten schools and universities to provide affordable housing and eradicate student homelessness (9)

Australia

• Savills releases new Student Accommodation Report 2023, highlighting the 50% drop in PBSA bed supply amid rising demand in major student cities (10)

Europe

• CBRE investment management successfully concludes acquisition of 16,600 sq. m student housing complex in Milan, featuring 580 beds, in partnership with CampusX (11)
• Italy aims to double student housing, and plans to increase housing supply from 64,000 units to 120,000 units by 2026 with European & public funds and vacant public buildings (12)

Canada

• Harrison Street Canadian Debut: Harrison Street enters the British Columbia student housing market with investments in Calgary, Montreal, and Ottawa, to add up to 1,200 student housing beds in the country (13)
• The demand for Canadian education from Indian students significantly dropped by over 40% between July and October 2023, reveals ApplyBoard data (14)

Sources: (1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14)