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MARKET SUMMARY

1.1 Market definition and presentation

Student housing includes any official residency or accommodation the university provides to students. These specific dwellings generally consist of a building or a group of buildings which are entirely inhabited by students.

There are 3 possibilities to find accommodation for a student in France: 

  1. Family housing;
  2. Student residences: private, CROUS, foyer, dormitory;
  3. The private rental stock: alone, in couple or shared.

The market is driven by the increase in the number of national and international students. At the beginning of the 2017-2018 academic year, there were more than 2.7 million students in France compared to 2.55 million in 2015. This increase is driven by the growth  in the number of foreign students in the territory and the extension of higher education, as well as the constant increase in the number of baccalaureate holders (in other words, the number of students who can access higher education).

Private student residences are an attractive investment for private investors. Student residences thus represented a yield of nearly 6.7% in 2016 in France.

 

1.2 A growing market in Europe

Source: ****
The European student housing market has grown considerably in the ** years between **** and ****, from *** million euros to around *.* billion euros - a growth of ***%
Part of the reason for this rapid development is the awareness in some European countries of the positive impact of international students on the national economy. ...

1.2 A growing market that is expected to continue to grow until 2020

According to BNP Paribas Real Estate, private student residences in France counted ***,*** beds in **** and thus accommodated between *% and *% of students. Studylease refers to a figure of *.* million students in ****, of which *.* million living outside the family home (***), a proportion that tends to decrease with age. Indeed, the majority of tenants ...

DEMAND ANALYSIS

2.1 The number of students is growing strongly, especially foreigners

The number of students in France is constantly increasing with an average of *.*% annual growth rate in recent years. By ****, there should, therefore, be more than *.* million students in France. Among them, there is a considerable number of foreign students who are increasingly numerous in France, as shown by the graph ...

2.2 Student residences, a stable investment and good diversification for an investor

A student residence is also a good investment as part of a portfolio diversification strategy: it is an alternative product since it is not a traditional real estate asset (***) that has the advantage of presenting an opportunity for resilience during a bad economic situation. There is even a negative correlation between ...

2.3 Student residences, a stable investment and good diversification for an investor

A student residence also represents an investment as part of a portfolio diversification strategy: it is a alternative product since it is not a classic real estate asset (***) which has the advantage of presenting an opportunity for resilience during a bad economic climate. There is even a negative correlation between the ...

MARKET STRUCTURE

3.1 A French market highly concentrated around a few players

The student residence market is not as transparent and liquid as other traditional goods, and according to Savills, ** to **% of the park belongs to private investors or is placed under co-ownership. It makes the market less accessible to real estate companies and institutional investors. The market is, therefore, dominated by domestic ...

3.2 Establishment of student residences in France

In addition, France is witnessing a housing shortage for students, mainly due to the increase in the number of French and foreign students in France. Housing supply is unevenly distributed on the territory and it can be seen that geographically speaking, the number of student residences is not directly correlated to ...

3.3 Geographical distribution of student residences

New student residences are in prevision in the academies of Versailles and Créteil, as well as in the provinces of Lyon, Montpellier, Toulouse and Bordeaux. Then come other projects in student cities of Lille, Nice, Rennes, Nantes and Aix-Marseille. Both of the maps below illustrate the expected evolution in terms ...

ANALYSIS OF THE OFFER

4.1 Student residences offer different types of services

In addition to accommodation, student residences offer additional services. The most common are the following:
Concierge service: in addition to security and order duties, the concierge is the resident's contact person and ensures that residents can contact him/her if necessary. Laundry: the rooms are too small to have a washing ...

4.2 Average price of a room in private residences

In May ****, all categories combined, the national average rent for student accommodation ranged from *** euros for a studio (***) to *** euros for a one-bedroom apartment. Prices naturally vary according to the type and size of the accommodation, but also according to the city. The following chart illustrates the price difference between the ...

RULES AND REGULATIONS

5. Regulations

Legal obligations of the real estate promotor
Student residences are subject to the French Building and Housing Code, and more particularly to the article L***-**. The definition of a university residence is that of "an establishment intended for collective housing as a principal residence in buildings containing both private premises, ...

5.2 Rent control

The 'rent framework' was initially created by law Alur of ** March **** to regulate rents in conurbations with complex rental markets. Its implementation depended on the presence of a rent observatory capable of providing sufficiently representative data. It has been in force for some time in Paris and Lille, but was invalidated ...

POSITIONING OF THE ACTORS

6. Segmentation

In this section, we will refer to some companies operating student residences. Since the study focuses mainly on student residences owned and managed by private investors, we will not focus on public residences or on the rental stock in general. However, we will give the CROUS as an example at the ...

  • Les Crous
  • Nexity
  • Les Estudines
  • Immojeune
  • Studélites
  • Arpej
  • Campusea
  • Fac-habitat
  • Espacil
  • Suit’études
  • Cardinal Campus
  • NEMEA Appart'Etud
  • Stud’city
  • Cap’études
  • MGEL Logement
  • Le Club Étudiant

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in 40 pages
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Analysts

chargé d'études économiques, Xerfi

Hugo Schott

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Associate Consultant

Mathieu Luinaud

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PhD Industrial transformations

Robin Charbonnier

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Analyst

Pierre Doussau

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President Ross Alumni Club France

Arnaud Walter

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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Consultant

Pierrick Cudonnec

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Project Finance Analyst, Consulting

Maelle Vitry

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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EDHEC

Imane Essadiq

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Auditeur

Vincent Defrenet

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Eva-Garance Tison

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Market Research Analyst

Michela Grimaldi

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Azelie Prigent

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Cantiane Gueguen

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Consultant

Jules Decour

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Alexia Vacheron

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Emil Ohlsson

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Anna Oeser

Anna Oeser

Gabriel Salvitti

Gabriel Salvitti