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It is now 2018 and the demand for
student accommodation for both Ireland and the UK is higher than ever. The numbers
of both domestic and international students are rising thus the demand for
housing these students is rising too. Unfortunately, at the minute the demand
is outweighing the supply and there are many students who are forced into private
renting which can be hefty costs for students across both countries. For example,
in Ireland for the academic year starting in September 2017, there has been a
lack in purpose built student accommodation (PBSA) of around 23,000 beds.  In the UK, the demand has seen that there were
3.5 students for every available room in 2017. The demand is predominantly high
in cities across the UK, such as Liverpool for example. In the last year they seen
an increase of 20% in students compared to the previous year with 60% of these requiring
accommodation.

A repot was carried out by the
Union Students in Ireland (USI) which outlined the needs, wants and current
housing situations etc of the students of Ireland. They found that 41% of
students would rather live in PBSA, although findings have shown that only a third
of higher education students have a PBSA bed and 31% living in the private rental
sector. Right now, in Ireland there is not enough affordable student housing
and the limited availability is unfortunately driving up the costs. The
government released a new National Student Accommodation Strategy on the 20th
July 2017, with a commitment to ease the growing housing pressures.  It aims to have an additional 21,000 PBSA
beds delivered by 2024. The intention is to achieve this through both public
and private development initiatives. Ireland has become quite a lucrative country
for investors to participate in the construction of the student accommodation
market.

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Regarding Britain, initially there
were concerns that Brexit would have an undesirable effect on the PBSA market.
New research has shown that this is quite the contrary with Savills reporting
that over £2.1 billion was transacted in the student housing sector after
Brexit compared to 1.9 billion earlier in 2017. The same report shows a 17%
increase in student accommodation investment in the UK year after year. 

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