The U.K. residential sector recorded a total of £2.9 billion (€3.4 billion/$3.6 billion) of investment in first quarter 2022, according to data from CBRE.
Investment was up 48 percent above the same period of 2021, illustrating the strength and resilience of the sector in the face of rising construction costs and inflation. The strong performance seen in first quarter has led CBRE to forecast a 25 percent increase in U.K. residential investment for the year.
Purpose built student accommodation (PBSA) accounted for nearly half of the total investment, £1.4 billion (€1.6 billion/$1.7 billion), the highest first-quarter volume since 2015 (excluding the iQ/Blackstone entity-level transaction in first quarter 2020).
PBSA activity was distributed across the country – with the largest portfolio deal being Downing’s £388 million (€454 million/$478 million) acquisition of assets in Manchester, Coventry and London from Greystar. It demonstrated appetite for b
