While the student accommodation market in the UK is booming, there are still cities coping with student housing shortages while the rush of new developments catches up to demand. The same is clearly true in Ireland, where despite recent investment there is currently a shortage of available properties for students to live in. So much so that this week Irish Minister for Educations and Skills Jan O'Sullivan has announced a grant of â‚¬30,000 to the Union of Students' website in a bid to promote their Rent-a-Room scheme.
The scheme allows homeowners to earn money (tax-free) by letting their properties out to students. An inter-departmental steering group has also been set up to help solve the student housing crisis in the short term.
The long term prospects of the market however may look a little more rosy as The Higher Education Authority's report on the student accommodation sector in Ireland says that before 2024 â‚¬1.2 billion will have been spent in Ireland, building new student bedspaces. That said, the report also says that even with this investment there will still be a 25,000 bed shortfall (should student numbers continue to grow on-trend).
So the future of student accommodation in Ireland looks, at best today, unstable. But with some new initiatives in place there is at least the chance that the private housing sector will pick up some of the slack.