Student housing sector worth $200 bn: JLL
"The increasing number of students from Asia choosing to study outside of their home country has played a key role in developing the student housing sector into a global real estate asset class," JLL said in a statement.
The number of students studying outside their home country is expected to rise to 263 million by 2025 against 165 million currently, it said, adding that "globally, the student housing market as a whole is estimated to be worth in excess of USD 200 billion".
JLL said in recent years, Asia has increased its market share as a source market for international students from 48 per cent in 2004 to 52 per cent in 2009.
The top five source markets globally are China, India and South Korea, followed by Germany and France in fourth and fifth. The most popular destinations for these students are the US, the UK, Australia, Germany and France.
"Strong economic growth in the key Asian markets has fuelled higher education enrolments globally. Over the past decade, countries like China, India and Vietnam have experienced rapid growth in the wealthier middle class, which has spurred demand for higher education and better housing options in destination countries," Jones Lang LaSalle Lead Director Student Housing and Higher Education Philip Hillman
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