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Student Accommodation in Ireland is Booming

Posted by Kristina Murkett in

Student accommodation is quickly moving towards becoming a mainstream of property investment in the UK, as the value of the student property market is expected to reach nearly £3 billion in 2015.

Ireland too is hoping to find its own pot of student gold at the end of the housing rainbow, as it witnesses a huge increase in both the value and scale of student accommodation developments.

Student accommodation specialists Urbanest last year bought a site in central Dublin as part of its overall plan to invest €250 million in Dublin's student, after also recently acquiring a 220 bedroom student accommodation complex in London's Kings Cross.

Tim Mitchell, chief executive of the company, said that 'Dublin has about 80,000 full time students and 100,000 language schools students... there is clearly a market there that we can capitalise on and hopefully grow quite quickly.'

Over the last couple of years, the influx of international investors into the UK student accommodation sector has pushed up the cost of building student housing complexes, and so diminished the high yield rates which were once so common for student rental properties.

This fact, coupled with the recent fall in value of the euro against sterling, may see an increase the number of student accommodation developments in Ireland which are funded by UK based property firms. Watch this space.

Image courtesy of Flickr, Creative Commons.