Residents Object to More Student Flats
24th Apr 2018
Student property has been a hot topic for investors throughout this year, so it comes as no surprise that we saw a striking £1.6 billion being spent on it in just the second quarter. This represents a 126% year-on-year-increase.
Jones Lange LaSalle (JLL), an independent property consultancy, is now predicting that £6 billion will be invested in student property in 2015 alone. JLL's predictions are based upon recent figures from Savills stating that in just the first six months of 2015 investors spent £4.2 billion in the market.
What seems to be attracting investment into student property is a significant lack of modern, "student-style" accommodation. With more and more applications flowing into UCAS, student housing is in significant demand. Such demand creates a student housing market that allows a rental premium that, according to recent statistics, offers investors around 50% higher rental yields than other standard residential investments. In addition, leading student accommodation brand Vita Student is Select Property Group are giving investors 7% returns on six working residences across a five year span.
Philip Hillman, Chairman of the Alternatives Group at JLL, stated: "We have seen significant investment in UK student housing so far this year, with particularly strong interest from Russian, Canadian and US investors. This is a trend we expect to continue as we push into the second half of the year."
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