University Living’s survey reveals a 3X spike in the number of students booking accommodation abroad

The survey aimed to understand the challenges and preferences of students moving abroad for higher education.

University Living’s survey reveals a 3X spike in the number of students booking accommodation abroad
There was a 2.5X increase in April and a 3X rise in May 2022.

Global student housing platform, University Living’s survey-based report shows a 3X spike in the number of students booking accommodation compared to 2021. The survey saw a significant spike in the overall traffic from January to May 2022 in students looking for accommodation. There was a 2.5X increase in April and a 3X rise in May 2022 compared to the same time last year, the report stated. Additionally, compared to the time of University Living’s inception in 2015, when the percentage of students opting for PBSA (Purpose-Built Student Accommodation) was at 8%, it has gone up to 22%, with an estimated 40% opting for this in the next three to four years.

According to the official statement, the survey aimed to understand the challenges and preferences of students moving abroad for higher education. The findings of the report shows that looking for suitable accommodations near their campus, financial constraints, language barriers, culture shocks, and remittance/current bank accounts are some of the common challenges that students face. The survey noted that only 1 out of 6 students find accommodation in university halls/on-campus accommodation, although this data varies for each country.

Further, University Living’s analysis found that the UK, USA, Canada, Australia, and Ireland are some of the most popular countries among students choosing to move abroad to pursue their higher education. University Living study further revealed that local educational government bodies prefer that international students live in PBSAs as they are more spacious, efficiently run, sustainable and reduce carbon footprint. From a student’s perspective, they offer more value for money, a better experience and environment, and more exposure as kids from various nationalities and cultural backgrounds stay together.

Furthermore, in terms of each country, the survey/report showed that Canada is still a supply-constrained market while the USA has more accommodation options, although the rising popularity of Ivy League universities is increasing the demand. Similarly, in the UK, some cities like Coventry are over-supplied by student accommodation, while some like Nottingham see high demand and limited supply. The Indian market, on the other hand, according to the platform, is far more fragmented, although there has been immense progress in recent years.

Also Read: TeamLease partners with Croma to offer a degree-linked apprentice programme

Follow us on TwitterFacebookLinkedIn

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos