Study Abroad: Private Sector Invests in Student Housing to Solve Affordable Accommodation Crisis

The widespread lack of affordable accommodation for students has recently been a problem in several prominent study-abroad locations. These include countries such as Canada, the Netherlands, London and many more this year. To address this problem, the private sector has started building new student housing.

BONARD which is the global go-to address for rented residential asset classes and provides data, develops strategies and assesses opportunities. They have noted that an additional US $6,085,719.87 (INR 500 million) will be invested in student housing construction (Purpose-built student accommodation) in continental Europe in 2022.

Several online booking services have estimated the global value of an investment in housing in 2022. It will be more than US $ 32,824,224 (INR 270 crore).

What is the Solution to this Crisis?

During the pandemic, several offices switched to telecommuting, which in turn created vacant spaces. These vacant spaces are now being converted into housing complexes for international students.

Initial trials are already underway in some countries. Several institutions are working with local authorities to improve the availability of housing for students.

In addition, technology has also come into play. Several websites are promoting interest in shared accommodation, especially in cities where affordable housing or student beds are particularly hard to come by. There are several online services that match flat seekers with people who have rooms or even entire flats to rent.

To solve this problem, some colleges are seeking beds for students by contacting local hotels. Whereas, other colleges are taking a different approach. For example, The University of Utah is aiming to place 100 students with local alumni but could expand that to 1,000 placements next fall if the pilot program is successful.

By following this way, the government aims to resolve the student accommodation problem.

If you are interested in pursuing your studies abroad, this could be the right time as you will get a lot of help in finding student accommodation. For more exciting news updates, make sure you contact Leverage Edu.