MARKET UPDATES
MARKET UPDATES
DENMARK
REGIONAL OUTLOOK
IREL AND Copenhagen is an attractive city for international talent, but suffers from a housing shortage. According to Dansk Byggeri this shortage amounts to 8,400 student housing units. In the rest of Denmark there is demand for another 13,600 housing units.
LEGAL AND POLITICS
NEW DEVELOPMENTS Denmark’s Minister for Higher Education and Science announced that several measures will be taken in response to the aforementioned research regarding the stay rates of foreign graduates. The main goal being to increase the retention rates of international graduates. For this reason, there will be a reduction in the number of places allotted to international students in programmes where retention rates are low. It is expected that the amount will be reduced by 1,000 to 1,200 places.
EDUCATION AND MOBILITY
COUNTRY STATS
Top institutions: University of Copenhagen, Technical University of Denmark & Aarhus University
Average domestic course fee: €0 Non-EU: €6,000-€16,000 Average monthly PBSA rent: €240-€940
National student housing provision rate: 16%
NEW DEVELOPMENTS In July a 228-units student complex was In August, the construction has started for completed at the Schønbergs Allé in a building with 312 units for international Valby, an inner suburb southwest of central students in the northwestern corner of the DTU Copenhagen. The property was acquired by Campus in Lyngby, a suburb of Copenhagen. the DFI European value-add fund. In Aarhus, Delivery is expected for early 2019. KONstruct commissioned NCC to build 235 rental apartments at the Gothenburg Allé. The target for this development is a mix of students and young families. The property was acquired by Europa Capital and Keystone IM. TREND REPORT 2019
According to Cushman & Wakefield some 6,180 student units are under construction in Dublin, of which 2,850 are due to be delivered this year. By far the largest development concerns a two-phase development of 2,118 beds by University College Dublin for its Belfield campus. A 207-unit development of Crosslane in Dublin will be opened in 2019/2020.
Top Countries of Origin: Germany, Norway & Romania
Student population: 314,822 International: 34,034 (10.8%) The Ministry of Education and Science conducted a study on international students. According to this study, 42% of graduates from English-language master’s programs have left Denmark within two years of completing their studies. According to a report of University World News, 26% of the graduates already leave Denmark within 3 months after graduating. About a third remained in the Danish workforce after two years.
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REGIONAL OUTLOOK
Ireland remains a sought-after destination for students and international investors. Students in Dublin suffer from significant daily commutes caused by to the chronic accommodation crisis in the city, despite various new developments.
TRANSACTION Round Hill is planning to invest €1bn in PBSA in Ireland. Other large investors are Blackrock, Cairn Homes and Hines. Hines acquired four student accommodation sites in Dublin for €162m. Besides this, Invesco Real Estate acquired a PBSA development in Dublin. The project, called The Brickworks, was purchased for €47m and will consist of 276 student units. Delivery is expected for July 2019. A joint venture of GSA and Harrison Street acquired four PBSA complexes in Cork and Dublin, with a total of 1,325 beds, for over €200m. In Cork, it concerns a 190unit development near University College Cork that opened in September, and a 413-unit development (delivery expected for 2020). Both buildings will operate under the Uninest Student Residences brand of GSA. The buildings in Dublin concern a 402-unit development adjacent to the Grangegorman campus and another 320-unit development. Both are planned to open in 2019.
COUNTRY STATS Top Countries of Origin: China, UK & USA
Top institutions: Trinity College Dublin, University College Dublin & National Univeristy of Ireland Galway
Student population: 218,411 International: 17,883 (8.2%) Average domestic course fee: €0 Non-EU: €760-€17,900
Average monthly PBSA rent: €400-€1.200 National student housing provision rate: 15.7% TREND REPORT 2019
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