Student Accommodation in Central & Eastern Europe
In Central and Eastern Europe (CEE) the PBSA forecast is looking promising. With a large number of higher education associations but the lowest number of international students the new government of Poland has adjusted it's strategy and are determined to commit financially to the internationalization of the country. Besides the known attraction of the historical culture, low-cost tuition and rent are also factors that are drawing international students to Warsaw and Prague.
This April Vertical Business Development Manager Christian Schmitz and SALTO KS’s local Sales representative in Poland Przemyslaw Dawidziuk visited the Central Eastern Europe Regional Session in Warsaw to learn more about the rise of PBSA in Central and Eastern Europe.
When in need for student talent good PBSA is of the utmost importance for a city. More and more governments are recognizing the problem of not having clear regulations around this important topic in check like zoning plans. They are slowly but steady owning up to their responsibility of attracting talent.
"A lot of countries can be daunting for outsiders; a lot of legal bases, different banking, different planning and to really get into it for business, you need to take longer to get comfortable." - Armon Bar-Tur, CEO of BaseCamp
In recent studies, it comes to the surface less than 10% of the students in the Warsaw district are not content with their university dorms. This comes to no surprise considering the current number of students is now 250.000 and only 18.000 beds are provided to them. Immediate investment in student accommodation is becoming pressing every day, but on a more positive note: This is a big opportunity to create that needed flourishing student community in this area.
In order to attract top talent students from abroad, Eastern Europe is demanding good PBSA now more than ever. Even though the costs of living are quite low at the moment, accommodations that are built and maintained solely for students just might be one of the biggest decision makers for students that are debating to move to a foreign country. Students nowadays value experiences, interaction and the feeling of a community more than material belongings; this is exactly what PBSA ignites.
For the most part (60 up to 70%) students rent property from private investors with a small portfolio of 2 to 10 apartments each. The costs are usually low, as is the quality of the property. If students got to pick, most of them would choose an en-suite room with high quality shared conveniences rather than studios. For students the location of their dorms is a number one priority, this not only counts for students within CEE, but around the globe.
Through organizing high-quality events in several different countries, original research and partnerships with higher education institutions, city leadership officials, real estate developers, providers, and investors The Class of 2020 created a network committed to making student living efficient, international, and welcoming.
Their vision is for cities to attract and retain the brightest young minds, and for them to lead the way to social and economic success in return.
We stand at the forefront of innovating student housing. Let’s shape the student living of tomorrow together.
Meet us at The Class of 2020 in Frankfurt the 23rd of May!
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