The purpose-built student accommodation (PBSA) market has been remarkably resilient over the last year despite the shadow of COVID-19, as the number of new beds increases and the development pipeline remains strong, according to Cushman & Wakefield.
Student accommodation providers across the sector have wrestled with the challenges of campus closures and adaptation and, throughout this whole period, supporting those who couldn’t go home or have chosen to return to campus. The impact of COVID-19 on demand meant that 2020/2021 saw the greatest amount of rental discounting in the history of the sector, with 25 percent of all direct-leased schemes offering some form of a reduction.
The healthy dose of new student beds entering the market for the 2020/2021 academic year (+24,800) represents a net increase of 21,000 beds. Some 3,800 beds have left the market, improving the overall quality of stock. Quality accommodation continues to be on students’ minds, demonstrate
