Investors in the Spanish property market have a growing demand to look forward to: student housing.
According to experts at Tranio.com, the Barcelona student property market is experiencing huge growth and an attractive panorama for international property investors and real estate developers.
The growing popularity of studying in Barcelona is clear; international students in the region increased, from 2005 to 2015 by factors of 2.1 in Spain and 2.5 in Barcelona.
Last year alone, about 33,000 students, approximately a quarter of them international, applied for places in local student housing properties.
The Spanish government is even looking at increasing the number of international students with their “Strategy for the Internationalisation of Spanish Universities” program, which aims to attract as many international students as possible.
The government aims to ease visa procedures and promote bilinguilisation of courses by increasing the percentage of bilingual courses from 20% to 100% in many universities.
According to Tranio, there is a growing demand that outstrips supply, with most students in Barcelona living in student accommodation.
“There are about sixty of them there. The total room capacity is 11,000, 85% of which accounts for large dormitories (over 300 places)” says Yulia Kozhevnikova of Tranio.
Kozhevnikova adds “Given the total number of places available (11,000) and the number of students needing accommodation (33,000), it becomes clear that only a third of the students in Barcelona can be accommodated.”
With Spanish property prices having suffered substantial drops over the years, student housing may just be the next buzz stop for international property investors.