Student Housing Market Size, Share, Growth, and Industry Analysis, By Type(PBSA, Private Rented Sector, University Accommodation and Others), By Application(Freshman, Sophomore, Junior, Senior, 5th year or later, Graduate student and Others), Regional Insights, and Forecast To 2031

Updated On: 20 November 2023

Student Housing Market REPORT OVERVIEW

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The global student housing market size was USD 11000 million in 2021 and market is projected to touch USD 17833.9 million by 2031, at a CAGR of 4.95% from 2021 to 2031.

Student housing is a type of lodging available to university or college students as an alternative to on-campus housing. The housing typically found close to a college campus or in areas of a city that are recognised for having affordable accommodation. There is a common misconception that homes offering student accommodation are either in disrepair, are overcrowded, or are lavish and beyond of reach for most families. The housing can be anything the investor wants it to be, but the main feature that sets it apart from other types of housing is that it is expressly designed for and marketed to students.

Any study destination's ability to provide affordable, high-quality student accommodation is a crucial factor. For both local and international students, a lack of affordable accommodation drives up living expenses. In addition to having an impact on student experience quality and destination competitiveness, this situation can also negatively affect budgeting. In addition, the demand for housing is a key sign of the general interest of students in a location.

COVID-19 Impact: Post-Pandemic Lifted Lockdown led in Upsurge of the Market Demand

Due to the adoption of housing for students by the education sector to improve efficiency, transparency, security, and safety, it is predicted that the COVID-19 epidemic will increase the student housing market share. Universities are implementing Student housing learning systems to assure student accessibility to education in order to maintain the continuity of school, colleges and institutions. As a result, it is projected that throughout the forecast period, there will be considerable prospects for the expansion of the worldwide student housing market growth.

LATEST TRENDS

"Profitable Returns Opportunity for the Investors to Boost the Market Share "

Student housing is a market that caters to everyone who wants to avoid the dorm living experience, which is ideal for anyone with the financial resources to invest in student apartments. In comparison to ordinary property markets, the student housing market always has a steady flow of tenants looking for someplace to live during the school year and even into the summer months. This means that as an investor, there is always a lease available. Renting out a flat with the correct amenities to students can be quite rewarding. This is an excellent opportunity for investors because it is a fledgling market with significant scalability, allowing for larger yields than traditional assets.

Student Housing Market SEGMENTATION

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• By Type

Based on type, the market is classified into PBSA, private rented sector, university accommodation and other.

• By Application

Based on application, the market is classified into freshman, sophomore, junior, senior, 5th year or later, graduate student and others.

DRIVING FACTORS

"Increasing Student Population to Inflate the market Share"

Due to the growing student population that moves to other places for academic reasons, student housing has a lot of promise. There is a high need for student housing in a few states due to the growing number of migrant students, yet campus facilities at educational institutions are inadequate to meet this demand. Developers have a tremendous opportunity to take advantage of this market opportunity and provide facilities in line with the evolving needs of the students because the government has set a GER target of 30% by 2021–2022.

"Spending Appetite Towards a Better Standard of Living to Strengthen the Market Structure  "

Although there is a perception that students dine out more frequently than they prepare their own meals, having the room and the right tools can be enticing as most university dorms do not provide such a luxury. There is no doubting the desire for international students who want to pursue an education abroad, and as a result, they can be a wonderful fit for your property. Nevertheless, whether you provide furnished or unfurnished housing could be a deal-breaker for certain students. This may be due to the fact that they lack the resources or means to furnish their home and choose to live in a place that already has everything they require.

RESTRAINING FACTORS

"Certain Security and Trust Issues can Hamper the Market Demand"

Quality and trust difficulties are the top challenges that both landlords and tenants confront as the rental housing sector remains unorganised and opaque. Given that female students account for more than 47% of overall student enrolment in India, it is critical that student housing accommodations meet the criteria for safety, security, and predictability of service. However, the restraining factor safety, quality and trust issues is projected to limit the student housing market growth in the forecasted period.

Student Housing Market REGIONAL INSIGHTS

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"North American Region Gauge for the Huge Revenue Share in the Market"

Due to the growing need for educational institutions in the region, North America is predicted to dominate the market for student housing globally. American university and college students are accustomed to using housing for students and rentals to advance their knowledge and skills by studying without any disturbances Universities and colleges in the area are employing the housing for students to let the immigrants and the in-house students stay near the campus, making academic campus accessible and secure for everyone.

Due to the growing number of students who move around the world for their education, student accommodation has a lot of promise. The campus facilities at educational institutions are unable to meet the demand in housing for students due to the increased number of migrant students in a few states. The North American region offers enormous potential for developers to take advantage of this opportunity and create facilities in accordance with the shifting needs of the students, with the government targeting a GER of 30% by 2021–22.

 KEY INDUSTRY PLAYERS

"Notable Players contributing towards the market"

The housing solution providers are putting their development plans into action to increase their market presence and secure a larger market share for the students. In order to increase their presence in the global market, providers of students apartment in edutech solutions have implemented significant growth strategies, including product launches, partnerships & acquisitions, and the creation of regional and global distribution networks.

List of Market Players Profiled

• Harrison Street (U.S.A)
• The Preiss Company (U.S.A)
• Greystar (U.S.A)
• The Scion Group (U.S.A)
• Asset Living (U.S.A)
• The Collier Companies (U.S.A)
• American Campus Communities (U.S.A).

REPORT COVERAGE

The report is an analysis of all market aspects for the forecast period. It also shows the evaluation of opportunities, trends, market share, product innovations, technology innovations, driving factors, restraints and others that contribute towards the market growth.