Student Accommodation Market to Grow with a CAGR of 4.8% through 2029

The global student accommodation market is driven by the continuous rise in the global student population, particularly international students, and the increasing demand for quality, safe, and convenient housing. The market is supported by government policies, the integration of technology, and evolving student preferences for experience-oriented living environments.

According to TechSci Research report, “Student Accommodation Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, the global student accommodation market was valued at USD 12.29 Billion in 2023 and is expected to reach USD 16.28 Billion by 2029 with a CAGR of 4.8% during the forecast period. The global student accommodation market is witnessing significant growth, driven by the increasing demand for higher education, particularly in developed and emerging economies. As more students pursue higher education, both domestically and internationally, the need for suitable, secure, and well-located accommodations is surging. Key drivers include the growing number of international students, especially from Asia, which has fueled demand in popular educational destinations like the US, UK, Australia, and Canada. Additionally, the rise of private sector investments and real estate developers specializing in student housing has bolstered market expansion, offering purpose-built student accommodations (PBSA) that cater to modern student needs with amenities like high-speed internet, social spaces, and proximity to campuses.

Technological advancements also play a crucial role, with digital platforms enabling easy booking and management of student housing, thereby enhancing accessibility and convenience for students and their families. The trend toward purpose-built accommodations, designed to meet the specific needs of students, is also gaining momentum, as these facilities offer a safer, more community-oriented environment than traditional rental housing. Moreover, the increasing focus on student well-being and mental health has led to the integration of support services within student housing complexes, further driving demand. However, the market faces several challenges. Affordability remains a significant issue, as the cost of student accommodation continues to rise, often outpacing inflation and putting financial pressure on students and their families. This is particularly problematic in major cities where the cost of living is high. Additionally, the COVID-19 pandemic has introduced new uncertainties, disrupting international student flows and raising concerns about the long-term viability of high-cost student housing models. The pandemic has also accelerated the adoption of remote learning, potentially reducing the immediate need for student accommodation in certain areas. Moreover, regulatory challenges and zoning restrictions in some regions can limit the development of new student housing projects, slowing market growth. Inadequate government support or policy frameworks can also hinder the expansion of this market, particularly in emerging economies where the need for affordable student housing is most acute. Despite these challenges, the global student accommodation market is expected to continue its growth trajectory, driven by ongoing demand for higher education, technological integration, and the evolving preferences of students seeking quality living environments during their academic journey. Market participants who can navigate these challenges while capitalizing on emerging trends are likely to thrive in this dynamic sector.

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The global student accommodation market is segmented into accommodation type, education grade, region and company.

The student accommodation market is segmented based on education grade into undergraduate students, postgraduate students, professional and continuing education students. The postgraduate students segment is emerging as the fastest-growing segment in the student accommodation market, driven by several key factors. Postgraduate students, often older and more financially stable than their undergraduate counterparts, typically seek higher-quality accommodations that offer privacy, convenience, and proximity to research facilities or industry hubs. As these students are often engaged in intensive research, internships, or professional work alongside their studies, they prefer accommodations that provide a conducive environment for focused academic pursuits.

The global rise in postgraduate enrollments, fueled by the increasing demand for advanced degrees to remain competitive in the job market, has significantly boosted demand for student housing tailored to this demographic. International postgraduate students, in particular, are a major driving force, as they often require fully furnished, well-equipped living spaces that are ready upon arrival in a new country. This trend is especially pronounced in major academic and research centers like the United States, United Kingdom, Australia, and Canada, where top-tier universities attract a large number of postgraduate students from around the world. The focus on purpose-built student accommodations (PBSA) has also grown, with many developers creating specific offerings for postgraduate students that include amenities such as private study areas, high-speed internet, and quiet living spaces. These features cater to the unique needs of postgraduate students, contributing to the rapid expansion of this segment. As the demand for higher education continues to grow globally, the postgraduate student accommodation market is expected to maintain its strong growth trajectory. In the Asia Pacific region countries like China, India, and Australia are experiencing a surge in the development of purpose-built student housing to accommodate large student populations and meet growing expectations for high-quality living environments. Additionally, government initiatives focused on promoting education as a key economic driver are accelerating the growth of student housing infrastructure.

Major companies operating in global student accommodation market are:

• American Campus Communities LLC 
• GSA International Limited 
• Campus Living Villages Pty Ltd 
• TSH Management B.V. 
• UNITE Group Plc 
• Harrison Street Real Estate Capital, LLC 
• Greystar Worldwide, LLC 
• Casita
• Kohlberg Kravis Roberts & Co. L.P.
• Mapletree Investments Pte Ltd

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“A key trend in the student accommodation market is the growing shift toward sustainability and eco-friendly practices. With increasing awareness of environmental issues, students and universities are prioritizing green living solutions, leading to a demand for accommodations that incorporate sustainable design, energy efficiency, and reduced carbon footprints. Developers are responding by constructing buildings with features such as solar panels, energy-efficient appliances, rainwater harvesting systems, and sustainable building materials. Additionally, there is a growing emphasis on communal living spaces that promote a sense of community while reducing individual resource consumption. This trend is not only driven by environmental concerns but also by the desire to align with the values of the younger generation, who are increasingly conscious of their environmental impact. As a result, sustainability has become a key differentiator in the market, attracting both students and investors who value long-term ecological responsibility “. Said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"Student Accommodation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Accommodation Type (Purpose-Built Student Accommodation (PBSA), University-Managed Accommodation, Private Rental Accommodation, Others), By Education Grade (Undergraduate Students, Postgraduate Students, Professional and Continuing Education Students), By Region & Competition, 2019-2029F”, has evaluated the future growth potential of global student accommodation market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global student accommodation market.

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