Posted on 22nd of May, 2019
Student housing in Australia: The Global Investment Summit
Around the globe the coliving movement is strong, and the land down under is no exception. As big fans of the Class of 2020, the biggest conference on student housing, our Australian team including Cedric, Robert and Dennis visited the Global Investment Summits in Melbourne and Sydney for some much-appreciated insights on the student housing movement in one of the worlds most urbanized countries.
Especially for students and young adults the world is their oyster. This generation is able to study, work and therefore live wherever life takes them. No wonder real estate developers are aiming for these digital nomads. Melbourne, however, has the highest number of students but the market for student accommodation is still not properly equipped. Investors are certainly interested but need some security in return like operational quality. The government is carving out a relatively high budget and has a strong, strategic and supported drive to attract international students to overcome the unpopularity of travelling within Australia that results in a market delay regarding student housing.
Luckily not only in the UK but also in Australia student housing providers are acknowledging their influence on the mental health of their young tenants. It’s a known fact loneliness is a big issue for the generation that’s famous for their ability to connect online, but struggle the most connecting with like-minded people offline. Student housing, therefore, is a welcome solution to overcome that sense of loneliness and connect and engage in real life.
A new trend is coliving when university ends: Fresh out of university graduates that are used to living in PBSA (Purpose Based Student Accommodations) would like to continue this way of living, at least until they're landed on their (corporate) feet, particularly in Sydney where living isn’t affordable at all operators have a great opportunity of establishing a successful coliving community. Coliving is a welcome solution to this problem and is applauded by the government. However, hybridisation occurs when it’s unclear where PBSA ends and coliving begins. To tackle the planning challenges in Australia competitors need to work together and define what student accommodation, coliving and hospitality exactly entail in order to make it a success.
We find ourselves at the forefront of innovating student housing. Let’s shape the student living of tomorrow together.
Meet the SALTO KS team this 23rd of May at the German Regional Session in Frankfurt!
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