Amber Beat: Student Accommodation Market News - August 2023, Week 02

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 August 04-August 10, 2023

United Kingdom

• EU student mobility shifts post-Brexit: UK enrolments decline, while other major destinations gain share - Analysis reveals impact and trends from British Council survey - Canada, Spain, France, and Germany among popular study destinations (ICEF)
• London student rental costs surge 20% in a year, exceeding loan limits by 50%: PwC analysis reveals; student housing in London costs 150% times maximum maintenance loan (ES)
• Global Student Living and College & University Business Officers report identifies student housing trend; 51% of international students opt for solo living, while only 25% of UK students share similar reference (Pie News)
• Survey by Save the Student observes UK student accommodation landscape shifts as private rented rooms preference rises to 46%, commute times lengthen, and financial struggles intensify (Erudera)
• Latest survey by Student Roost reveals lack of awareness among students; 66% unaware of off-semester stay option, 84% unfamiliar with cross-city accommodation choices (SBN)
• Study Inn survey finds Glasgow to be most favourite study destination for students in UK (the Tab)

New Construction (United Kingdom)

• Sheppard Robson's revised student residential tower project with 1,224 beds approved in Manchester by iQ Student Accommodation, aiming for BREEAM Excellent rating (AJ)
• Plans unveiled for £450 million PBSA development project with housing capacity for 1100 students at Mancunian Way, Ardwick and Brunswick residents register their dislike with slogan “Stop the Monster” (MEN)
• Urbanite Living breaks ground on £33 million student accommodation project 'Clyde Court' in Glasgow, delivering 169 studio bedrooms for University of Glasgow and University of Strathclyde students, managed by CRM Students (SO)
• Real initiates construction of £12.6 million Hollis Building for 120-room student accommodation project in Bath, developed by Alumno Group (Bath Echo)

United States of America

• T2 Capital and Muinzer Management partner up to acquire a 629-bed student housing facility catering to the needs of Purdue University students (EIN)
• Axonic Properties, successfully acquired ‘Vue on Macgregor’, a student housing facility near the University of Houston that can house up to 347 students. This transaction was managed by JLL Capital Market (MFB)
• Global Student Housing secures a $28 million loan to develop ‘Global Student Housing College Station’ comprising 339 beds in College Station, Texas (MHN)
• Addressing the increased on-campus housing demand, Purdue University Board approved the development of an 8-storey student residence named ‘Hillenbrand Hall South’ which will house up to 900 students, expected to commence in June 2026 (Purdue)
• Lincoln University is increasing the number of beds in triple and quad-sharing rooms in response to the student housing crisis. The LU board of directors further indicated that the availability dilemma results from Dawson Hall's redevelopment, which is expected to be completed in the spring of 2025 (ABC)
• Peralta Community College in Alameda, California, asks for a $52 million grant from the state to develop its first affordable student housing dorm to house up to 306 students (Oak)

Australia

• “Institute of Public Affairs” report reveals a projected housing shortage of 252,800 dwellings by 2028 due to surging immigration and international students taking up a majority of the new housing supply (MB)

Europe

• Cheyne Capital, an asset manager provides €44m loan to GDG Investissements for a transformative mixed-use property project in Central Paris, featuring campus space and student housing (RA)
• Over 1.6 million registered students in Spain drive demand for enhanced student residences, 40% are international and 10,200 new places are expected by 2026 (elmira)
• GESOcampus in Berlin-Hellersdorf offers affordable housing solutions for students with 40 rental apartments for 84 students, prices starting at €480 per month (VTR)
• Sligo student accommodation in Ireland saved for academic year as Department of Children halts Refugee Contract, ongoing engagement ensures availability for students (IIE)
• ASAS Arkitektur unveils innovative student housing project in Hamar, Norway, embracing traditional 'Tun' Design: A village-inspired complex with smart space utilization and passive house sustainability (GDN)

Canada

• Universal basic income (UBI) poses a potential solution to financial struggles faced by Canadian post-secondary students amidst rising living costs and educational expenses (thegauntlet)
• Unprecedented housing shortage hits Calgary universities as campus residences reach capacity and waitlists soar (CBC)
• Canadian Border Services Agency charges Brijesh Mishra for defrauding 700 Indian students in bogus admission scheme; immigration minister outlines consequences (livemint)

‍

‍