Of the total number of students who study abroad with student accommodation platform, University Living, only one out of six students (around 22%) are able to find university accommodation, a report by the organisation has revealed. The remaining 78% have to look for alternate options, such as Purpose Built Student Accommodation (PBSA) or private apartments, the report added.
“As more and more students are leaving their hometowns for their higher education, and many of them even moving overseas, the demand for student housing has drastically increased. However, many face challenges in finding the right accommodation, primarily due to booking late. It’s always best to be an early bird to find housing suited to your requirements,” Saurabh Arora, founder, CEO, University Living, said.
He said that the prices of the accommodations are based on demand and supply, which means that students tend to pay 10-20% more with supply chain changes.
The report further showed that University Living witnessed a 4X growth in demand for student accommodation on its platform in 2022, which is almost a 300% increase compared to the previous year, an official release said. It added that the platform is expected to witness nearly 5% rise in demand for student housing in 2023.