Amber Beat: Global Student Accommodation Market News - November 2023, Week 05

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 November 24- November 30, 2023

United Kingdom

• University of Glasgow faces decline in accommodation occupancy rates with over 500 vacant rooms, nomination agreements costing £93 million raise concerns amidst a 20% rent hike (1)
• Imap Properties entrusts Savills to facilitate the sale of high-performing “The Orbital” student accommodation in Nottingham with 100% occupancy, offers invited above £9.8 million (2)
• Greenwich Council provides permission for 27-storey student tower with 414 rooms at Ravensbourne Wharf, London, including affordable housing and public amenities (3)
• Glasgow City Councillors to review plans for proposed 288-bed student accommodation in Trongate area on Osborne Street and Old Wynd (4)
• Glasgow-based Ambassador Group's “Nova Living” concept secures planning permission for £40 million sustainable 273-bed student apartments on Osborne Street (5)

United States of America

• The Institute of American Indian Arts (IAIA) starts construction of 18,000-square-foot new student housing facility which is a complex with 13 units, 800 square feet each, and two 3000 feet artist studios (6)
• The East Tennessee State University, Johnson City, Tennessee plans to convert offices to student dorms in the middle of rising student enrollments (7)
• North District Phase 2 breaks ground for a new student housing complex consisting of 1568 new beds, worth $347.78 million (8)
• The Toll Brothers Campus Living has joined hands with Davis Companies to start a new venture for the development of a 680-bed luxury student housing community in Orlando (9)
• American Campus Communities (ACC) plans to develop a $631M new student housing community consisting of five halls of residence totaling 2300 beds and a 900-seat dining facility at the University of Michigan in Ann Arbor (10)

Australia

• ITECA urges Australian government to reject international student tax proposal amid concerns over sector impact and declining enrollments (11)
• International students in Australia react strongly to proposed cap and tax measures, expressing concerns over housing crisis impact (12)

Europe

• Greystar re-enters Spanish PBSA market with acquisition of 435-bed student accommodation in Madrid, addressing severe housing shortage (13)
• Disk C Tower renovation project in Halle-Neustadt, Germany to offer 280 one-room, 28 two-room apartments for students set to open by the end of 2024, funded through Variowohnungs Model in Future Construction Innovation Program (14)
• New student residence in Lehnerz, Germany to welcome 43 students in Q1 2024, offering affordable housing near Fulda University (15)
• WFW guides Banco Sabadell and Banco Pichincha on syndicated financing for Livensa Living Riera student residence in Barcelona, Spain, facilitating 334-room development (16)
• Resa, student housing operator unveils 320-bed residence in Chamartín, Madrid, for 2024-25 academic year (17)
• Redon's New Higher Education Campus in France is set to accommodate 750 students, with a total project of €19 million secured with state aid and 45% of self-financing (18)

Canada

• Bonard report highlights the critical housing shortage in Canada, forecasts PBSA provision rate of 12.7 per cent by the 2029-’30 school year, generating international investor interest in the sector (19)
• Thompson Rivers University inaugurates a new 148-bed student residence featuring 80 rooms with single and double occupancy options in East Village near Dalgeish Drive, Kamloops City British Columbia (20)

Sources: ((1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20))

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