The shortfalls in student accommodation have been especially detrimental to international students – those coming from countries with a weaker currency have found accommodation increasingly unaffordable, for example.
Yet in 2022 – the UK issued nearly 500,000 study visa grants for international students – this marks an impressive 81% rise when compared to pre-pandemic figures.
Indian nationals enrolled into UK universities saw a 307% surge (105,278) compared to pre-COVID 2019 figures (34,261).
While the intake of Chinese students tapered down slightly – there has also been a significant increase in students coming from other countries such as Nigeria and Bangladesh.
However, it is forecast that Chinese international students will again rise in numbers due to China’s recent loosening of their COVID restrictions.
A recent survey conducted by Erudera has even highlighted how 64% of respondents do not support restrictions placed on international students and believe they should either increase or at least remain the same.
This is a positive for any would-be investors interested in student accommodation as it ensures that there is potential for long-term gains for the foreseeable future.
This seems to be reflected in further data from JLL too which has highlighted the overall global share of investment into the ‘living sector’ has seen a 17% rise since 2010.