Date Published 28 June 2012
London missed out on the top spot for student housing due to the high cost of living, according to the Knight Frank research; it is followed by Vienna, Dublin and Barcelona.
James Pullan, head of student property, Knight Frank, commented:
`Student accommodation in the UK has delivered solid and consistent returns throughout every year of the economic downturn, thereby attracting significant volumes of international equity and institutional debt into the sector.`
The number of students travelling overseas to attend university has been rising steadily in recent decades, and this trend is set to continue. Just as the world’s economies have become more globalised, with the relaxation of trade barriers, education has also become a global commodity.
Students now seek out the best educational institutions across the globe. The factors that lie behind this trend are:
- the rise of the middle classes in emerging economies, especially Asia;
- the growing acceptance of international higher education qualifications across the world;
- a new ‘internet generation’ of globally connected and well-informed student consumers
James Pullan commented: `The rise in global student mobility has created an excellent opportunity for investment in key European cities and is a long-term trend that is set to continue. This structural shift in the make-up of student populations has significant consequences for cities that play host to the world’s best universities, and throws up key opportunities for developers and operators.`