Amber Beat: Global Student Accommodation Market News - November 2023, Week 01

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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 October 27- November 2, 2023

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United Kingdom

• Unipol and HEPI survey reveals student maintenance loans stretched to the limit as rents rise by 15% in the UK (1)
• Blackstone's IQ student accommodation expands its UK portfolio with £370 million London and Edinburgh property acquisitions, totaling 1,165 beds, from Downing Students (2)
• Bowmer & Kirkland commences construction on £130 million iQ student accommodation project in Manchester, expected to house up to 1,224 students (3)
• Stelling Properties initiates the transformation of the former Bank of England site in Southampton into a luxury student flats project, comprising 120 units (4)
• GMI Construction Group to build £50 million student accommodation project in York for Olympian Homes, ‘Rialto House’ with 275 units (5)
• Downing College gets approval to convert Cambridge city centre offices into student flats for the University of Cambridge (6)
• McLaren Property proposes a 332-bed student accommodation scheme in Leeds, aiming for BREEAM Excellent and EPC A compliance for the project (7)

United States of America

• UC Berkley has announced the inauguration of "The Albany Village," a student housing complex with up to 761 units; applications for AY 24–25 to open in Spring 2024 (8)
• In a joint venture, CBRE and GMH Communities acquire "Venue at North Campus," a 734-bed student housing community, close to the University of South Florida, Tampa (9)
• Kenyon College concludes the redevelopment of Bexley and Colburn Halls and plans to welcome students in Spring 2024 (10)
• CBRE arranges the sale of “The Connection at Athens”, an 876-bed student housing facility near the University of Georgia Campus, Athens (11)

Australia

• Oxford Economics Australia Report observes a 27% rental increase due to a rise in international student enrollments, raising concerns about housing affordability (12)
• Australian Competition and Consumer Commission (ACCC) introduces “Scamwatch” amidst rising rental scams due to the housing crunch being faced by international students in Australia (13)
• University of WA plans new self-catered accommodation facility for 700 students on Nedlands Campus (14)

Europe

• JLL report reveals European living investment reaches €9 billion in Q3 with student housing receiving €1.7 billion in the quarter (15)
• Ireland launches €434 million fund, backed by €200 million 40-year loan from EIB and State HFA, to address student accommodation shortage, announced by Minister for Further and Higher Education, Simon Harris (16)
• Paul Appell university residence completes €56 million renovation, providing 1,415 rooms for students in France (17)
• Equilis' Nexum Retail Park to Inaugurate with 600-Room Student Residence and Hotel in Fuenlabrada, Spain, property to be operated by Collegiate (18)
• Spain's real estate developer Monthisa Launches 317-Room Student Residence near Chamartín Station as Part of Madrid Nuevo Norte Urban Development (19)

Canada

• New affordable student housing 'Ardoise' opens in Québec, providing homes for 243 university students (20)
• Expansion plans scheduled for the former Guelph Hotel, adding more student housing to ALMA (Holiday Inn) property (21)

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