Immobilier et cycle de vie

Le marché européen de l’investissement en résidences étudiantes

The student residence market is in rapid growth

Whilst for 2010-2014, the average annual investment volume was evaluated at €2.3 Billion; this has been multiplied by a factor of 3 for 2015-2019, reaching more than €7.3 Billion per year. That means a total of almost €50 billion euro in transactions since 2010. With 32% in investments, almost €20 billion, the European student residence market (excluding the United Kingdom) has increased significantly since 2015; the two largest European markets being France and Germany

Immobilier résidences étudiantes

L’Europe (Royaume-Uni inclus) compte de près de 20 millions d’étudiants. L’Allemagne, la France, le Royaume-Uni et l’Espagne sont les pays les plus importants avec plus de 2 millions d’étudiants par pays. La population des 20-24 ans dans l’Union Européenne (hors Royaume-Uni) devrait se maintenir, passant donc de 24,1 millions en 2020 à 24,6 millions en 2030.

Le nombre d’étudiants en mobilité internationale diplômante, généralement considérés comme la population cible des résidences étudiantes, a connu une forte progression ces dernières années passant de près de 3 millions en 2005 à plus de 5 millions en 2018. Avec plus de 1,6 million d’étudiants étrangers et intracommunautaires en 2018, l’Europe concentre environ le tiers de ces étudiants.

Alors que les projections des étudiants en mobilité devraient avoisiner les 10 millions à l’horizon de 2030 au niveau mondial, une redistribution des cartes pourrait avoir lieu en Europe. Avec le Brexit, effectif depuis janvier 2020, la mobilité future des étudiants pourrait être impactée. En effet, à partir de 2021 le Royaume-Uni pourrait ne plus être qu’un pays partenaire au même titre que la Turquie ou la Norvège ce qui aurait pour conséquence, pour le Royaume-Uni, une baisse des mobilités étudiantes et des partenariats universitaires.

Whilst global forecasts imply that the number of mobile students should reach 10 million by 2030, Europe will be subject to some major changes. Brexit, which came into force in January 2020, will have a major impact on student mobility. As of 2021 the United Kingdom will no longer be a partner country, just like Turkey and Norway, which will mean fewer overseas students and university exchanges for the United Kingdom

An analytical table for investment in European student residences

To identify the most attractive markets, Primonial REIM has analysed various criteria and presented them in a table (percentage of internationally mobile students, market liquidity (average investment volume over 10 years) and the total number of students in higher education). Whilst the United Kingdom seems to be the most established market in Europe, long-term risks have been identified for this market. France and Germany stand out as safe growth markets, Austria and Holland also appear to be in periods of growth. Conversely, the Southern European countries are less attractive. For student residences, Primonial REIM recommends:

markets that are attractive to internationally mobile students since they stimulate the demand for high quality student residences;

• an attractive position in the price and rent cycle of European metropolitan areas with internationally reputed universities.

The team

Daniel While
Daniel While Research, Strategy & Sustainability Director

Henry-Aurélien Natter
Henry-Aurélien Natter Research Manager

Adrien Isidore
Adrien Isidore Economist Statistician

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