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

About Amber Beat

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 September 28- October 5, 2023

United Kingdom

• Cushman and Wakefield’s report highlights UK student housing’s supply-demand imbalance, and observes 12.5% rental growth among the high-end providers, whereas PRS sees a 9% rental increase (1)
• ‘Homes for Students’, partners with Lavanda to utilize their property management platform, for maximizing occupancy and rental income year-round, with a focus on university holidays (2)
• Vita Group cracks deal with Savills for the sale of £300m PBSA assets located at Bruce St., Belfast, Iona St., Edinburgh, and Cannon Park, Warwick (3)
• Student accommodation booking platform Housemates joins guarantor services provider Housing Hands to optimize their student housing solutions provision in the UK (4)
• University of Manchester announces £400 million redevelopment plan for its Fallowfield Campus with additional 3300 student beds (5)
• Tottenham Hotspur Football Club unveils revised plans for student flats near its North London stadium, including 231 'cluster bed' units, 56 studios, and 100 affordable bed spaces, located close to notable institutes including University of Middlesex and Queen Mary University of London (6)

United States of America

• Dartmouth College announces plans to develop a new on-campus housing facility capable of hosting up to 300 undergraduate students; President Beilock has promised an additional 1,000 on-campus beds over the next 2 years (7)
• Cal State Long Beach unveils plans for a new 5-storey affordable student housing facility, costing $115 million and adding 424 beds to its portfolio; construction to begin in Spring 2024 (8)
• Baylor Graduate School in Waco, Texas, announces the opening of two new off-campus student apartments for graduate students; reservations to begin in the 2024-25 academic year (9)
• Rose-Hulman Institute of Technology, Indiana breaks ground on a $30 million, 4-storey student residence hall accommodating up to 160 first-year students, addressing the need for campus housing and is scheduled to open to students by Fall 2025 (10)
• The University of Notre Dame, Indiana declares plans for the construction of two new student residence halls, adding an extra 533 beds to the campus (11)
• ‘Core Spaces’ replaces the demolished Raleigh Hotel with a luxury 12-storey student housing complex with the capacity to house approximately 2000 N.C. State students (12)

Australia

• Over 2,300 international students approved to buy properties in Australia amid record enrollments, as crackdown on visa system abuses looms (13)
• Curtin University students to face a 41% average increase in accommodation fees, including a 166% (from $88.50 to $236 per week) hike for some places, driving concerns over rising rents and financial stress (14)

Europe

• Altea Group unveils ambitious Ilot des Maraichers Project in Nice Méridia in France, featuring 320-room student residence in a mixed-use development (15)
• JLL analysis reveals PBSAs offering an average of 21% cost savings over private rental sector studios in Europe; unmet student bed demand exceeds 150,000 in London and Pari (16)
• The Boost Society acquires its largest student residence in Ile-de-France, offering 571 beds in Créteil, to open in January 2026 (17)
• Hasselt University unveils plans for a 14,000sqm Business Economics Campus designed by Jo Coenen in Belgium, set to accommodate 1,500 students and 400 staff (18)
• Jagiellonian University prepares for its 660th academic year with strong recruitment numbers; plans a new dormitory in Ruczaj, Poland for 400 students (19)
• UK-based construction company, Graham secures contract to construct 15-storey PBMSA with 460 bedrooms for Queen’s University in Belfast, Northern Ireland (20)
• Venlo's ongoing struggle highlights student room shortage as private rentals decline amid tax changes, prompting Municipality's focus on new construction initiatives (21)
• Delays in Lisbon University’s on-campus residence construction may lead to student exodus as accommodation will be available in 2024, prompting concerns over housing availability (22)

Canada

• Guelph City Council to decide the fate of proposed 1,149-bedroom student housing project near the University of Guelph; if approved, can add up to 532 residential units (23)
• Conestoga College acquires two buildings in the Waterloo region to address the shortfall of 5,000 student beds, prompting action from local committees and institutions (24)
• Windsor Councilor highlights alarming student housing conditions with a viral rental listing. Social media post displays multiple mattresses crammed into a room, separated by portable cabinets acting as thin walls (25)
• No waiting list announced for University of Guelph student residences this year; both graduate and undergraduate students to engage in a survey for evaluation of current and future housing requirements (26)
• Due to the high demand for rental housing from post-secondary students; Vancouver City Council to explore policy options for increasing purpose-built student housing supply (27)

Sources: ((1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20), (21), (22), (23), (24), (25), (26), (27))