Amber Beat: Student Accommodation Market News - March 2023, Week 03

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 March 8 - 15, 2023

United Kingdom

• The cost of living crisis might increase dropout rates. 1 in 5 UK students considering dropping out (Russel Group Students’ Union)
• Unite’s move into BTR sector, planning on diversifying offerings and increasing market share ( UNITE )
• Glasgow expects 1.75mn students but has only 20553 PBSA student beds (Glasgow)
• Irish Government to help Dublin City University with  €40mn for construction of 405 beds (Ireland)
• Students have been asked to pay a year’s rent upfront if they don’t have families in the country.  (Independent)
• Moda launches new PBSA platform, plan on delivery of 10,000 new student beds in five years (PBSA news)
• iQ Student rolls out tech platform Lavanda nationwide  (iQ student)

United States of America

• Landmark Properties to develop a 435-unit community with 87 affordable units near the University of Southern California  (LA)
• USF campus to complete residence hall and student centre worth  $42 Million by Fall 2024  (University of South Florida)
• Locals protest for UC Berkley’s 1000-bed PBSA on People’s Park for heritage value (Washingtonpost)
• Georgia Tech’s 850-bed residence hall worth $117,000,000  to complete by Fall 2026  (Georgia)

Australia

• Student poverty and homelessness worsen. Housing scams on the rise (Australia)
• The Switch to double student property portfolio to $900m amid sector’s resurgence (business news Australia)
• Investors from China and Hong Kong flooding the Australian market, with investments valued at $3.8bn  (Dailymail)
• Driven to homelessness and suicide, students protest against soaring rents in student housing (Sydney)
• New student accommodation opens at Maryborough and District Hospital (Queensland)
• AustralianSuper is funding a $920mn development of 1092 housing units in Melbourne. $364 million of equity holdings in Brunswick, Coburg and Footscray (Melbourne)
• Read Highlights of Australian PBSA in JLL’s 2022 report- (JLL)

1. The ratio of beds to applicants rise from 3:1 to 7:1
2. The biggest increase in international students in 2022, reaching 44% to 456,970
3. The market expects foreign investments from “Northern Hemisphere” & foreign investors

Canada

• Top Student City: Kingston has been named Canada’s top city for post-secondary students for community, cost and education. (Kingston)

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