Canada, a country known for its outdoor beauty, is the top location for every student to pursue their higher education. However, this comes with a clause. Canada lags behind the United States and several other European nations in terms of purpose-built student accommodation (PBSAs).
A recent report suggests that the maximum number of PBSAs which were built in Canada is already full. This has led to the need of creating new PBSAs. Several investors are interested in this sector and are ready to build new PBSAs for student accommodation.
However, BONARD’s real estate business development director Martin Varga recently told a publication, that he was working on this issue. He also mentioned that he had information about the local specifics.
Canada Hosts International Students
Apart from all of this, Canada is considered the top 1 country in hosting so many international students every year. Many investors believe that investing in the Canadian market will prove beneficial. This is because there is a huge opportunity for growth for both students and investors.
Recently, Canada hosted 1.29 million students in 2021-’22, of whom 259,217 were international., according to a survey.
Toronto had by far the largest number of beds in the pipeline, at 4,266 (2,160 under construction and 2,106 planned), while Hamilton was second at 2,130 (2,010 under construction and 120 planned).
Canada’s half of the population is studying in Ontario while the other half is based in other parts of the country. Other than this, several universities are also coming up with solutions regarding accommodation problems.
While other universities have started investing in public-private partnerships which will too pose a beneficial solution.