€960M Fund Declared to Tackle Italy’s Student Housing Crisis

According to the real estate news in Italy, the recent series of protests have brought the Italy housing crisis into the limelight. The protest started at a university ground and quickly spread across 25 cities.  The crisis has brought to light the staggering international student housing crisis.

Concerns were raised by university students struggling to find affordable student accommodation in Italy, according to a  survey of 20,000 students by the University Student Union in collaboration with other entities. The number of student beds available in Italy is 36,500, with over 764,000 students attending higher education institutions outside their province of residence. Currently, only 4.77% of students have received comfortable and affordable housing in Italy. The survey figures,, state the issue of high rent by 56% of students, low living conditions by 47% of students and unavailability of suitable student accommodation for international students in Italy.  

According to the latest news in Italy and a survey of immobillaire, the ongoing Italy housing crisis is seeing a steep rise in rent, especially in major student cities in Italy like Milan. The rent in Milan for a student bed student can be approximately €630 to €1000 per month. Whereas the other nearby cities like Rome and Bologna cost around €500 on average, despite the Italy housing crisis.

Now, to tackle this eroding crisis, the government of Italy has come up with a plan to efficiently use the €960 million PNRR funds (Post-Pandemic National Recovery and Resilience Fund) to be diverted from the European Union’s Recovery and Resilience Plan. 

As per PBSA news, the European Commission has commented on the strategy, stating, “the offer of student accommodation from the current 64,000 places to 120,000 places by 2026”. The government's response to the PNNR funds redirection is a sigh of relief in the ever-increasing Italy housing crisis.  

Also, based on the real estate news in Italy, the international housing crisis and the solution in the form of PNNR funds led to the government, the universities and the private entities working together to come up with a sustainable solution.

The city council of Milan is up with a plan to build 600 student housing options in the municipal council’s vacant complexes with the support of the European Commission’s funds. The step will also help in capping the prices at €250 and €350 monthly. 

Universities like Sapienza University, Milan’s State University- Università degli Studi di Milano and the northern Piedmont regional government announced the creation of 166 beds, 208 beds and 500 beds, respectively.  

The PNRR funds have been the backbone of the entire plan to create safe, secure and affordable student housing in Italy. The funds by far, have created 8,500+ student beds to bring hope for out-of-town students amidst the daunting housing crisis for the international students in Italy. There is also a plan to create 5,400 beds in the government buildings with a new €500 million national fund.

Furthermore, when it comes to private entities playing their part, firms like Invimit, a government-owned construction company, are on the way to developing an OPA project. According to the authorities involved in the program and the CEO of Invimit, Giovanna Della Posta, the student housing project will involve Built-To-Rent or BTR properties with the aim of keeping the rent up to €500 per month.

The solution of using PNNR funds for tackling the Italy housing crisis is commendable. Giovanna Iannantuoni, President, CRUI says, “Collaboration between public institutions, universities and private entities is essential to meet an Italian PNR target of creating 51,500 new beds by 2026.”

Concluding on the Italy housing crisis 2023, the PNNR funds seem to be a great way. The student real estate market, especially the PBSA and HMO sectors, is handling the crisis hands-on approach. The steps are also providing the student real estate investors with a positive lookout for the future in terms of investment. In case, you are looking for a sustainable and great source of income, you may list with us. Also, we would love to see you here again at amber news. Keep reading, keep exploring, and keep growing.