Content of the study:MARKET OVERVIEW
1.1 Market definition and presentation
A student residence is a collective real estate complex (generally composed of 80 to 120 units) intended to accommodate a student population. The law requires that 70% of the building's population be students.
There are 3 possibilities to find accommodation for a student in France
- Student residences private, CROUS, hostel, dormitory ;
- Private rental stock : alone, in couple or in shared flat;
- Family housing .
The market is driven by the increase in the number of domestic and international students. At the start of the 2019-2020 academic year, there were more than 2.72 million students in France compared to 2.55 million in 2015 . This increase is driven by the increase in the number of foreign students in the country and by the lengthening of higher education studies as well as the constant increase in the number of baccalaureate holders (i.e. the number of students who can access higher education).
1.2 A growing market in Europe
The European student accommodation market has grown considerably in the ** years between **** and ****, from €*** million to around €*.* billion - a growth of ***%. In ****, investment grew by **% in the European student accommodation market, partly driven by the UK (***). In ****, the total amount of investments thus reached *.* billion euros. [***]
Annual investment volumes in ...
1.3 A growing but less dynamic market
At the end of ****, the stock of available housing in student residences will reach ***,***, growing by only *% since **** (***), a proportion that tends to decrease with age. In fact, the majority of tenants in these residences are undergraduate students who generally live there for one to two years.
Market size
There is ...
1.4 Impact of COVID-19
The COVID-** Pandemic has brought about devastating consequences for higher education in France and by extension the student residence market. Indeed, many universities have been forced to keep their campuses closed for months to avoid the spread of the virus among their students and staff. Consequently, given the fact that almost ...
ANALYSIS OF THE DEMAND
2.1 The number of students is growing
The number of students in France is constantly increasing with an average rate of *.*% annual growth in recent years. At the start of the ****-**** academic year, nearly *.** million students enrolled in higher education in France, representing an increase of *.*% (***) compared to the previous year. The number of students in higher ...
2.2 Geographical distribution of students in France
Below we consider the figures relating to the distribution of students in the main academies in France (***).
Distribution of students in the main districts of France France, ****-****, in thousands of students Source : Ministère de l'enseignement supérieur
Distribution of students in the main districts of France France, ...
2.3 The situation of student housing today
In ****, the average student's budget for housing was €***/month. However, this national average hides strong regional disparities: in France as a whole, excluding Paris, the average rent is €***, but the capital largely pulls the national average upwards, with an average rent of €***/month.
Average student housing budget France, ****, in €/month Source ...
2.4 Student preferences and guarantors
Almost **% of students prefer to live in a studio (***) alone. One bedroom flats are the preferred type of house for **% of students. *% look for a single room, while **% opt for coliving with other students/people in a larger flat.
Preference for students housing, by type of property France, ****, in % Source: ****
Regarding ...
2.5 Geographical distribution of demand
In ****, the Parisian region attracted **% of searches for student housing, a *% decline from the previous year but still the largest share. The city of Paris alone acounted for half of searches.
The table below breaks down the cities in which student housing is most sought after, by volume of searches.
Source: ...
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 properties, and according to Savills, ** to **% of the stock is privately owned or placed under the condominium regime . This makes the market less accessible to real estate companies and institutional investors. The market is therefore dominated by domestic ...
3.2 Location of student residences in France
In addition, France is witnessing a housing deficit for students, notably due to the growth in the number of French students and the increase in the number of foreign students in France. The supply of housing is unevenly distributed geographically ad we can notice that the number of student residences is ...
3.3 Competition from public actors: example of CROUS
The competition for student residences is certainly with other groups of private student residences, but also with other types of accommodation available to students. In this respect, public university residences also represent a type of competition to private residences
The CNOUS, Centre national des oeuvres universitaires et scolaires and the Crous, ...
3.4 A focus on studios
Since studios represent the preference of almost **% of students, in terms of housing, it is interesting to compare the rents for this type of accommodation in the main university towns.
NB The cities in bold are in the Parisian region. This list is not exhaustive
Source: ****
As we can see, a ...
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 ones are the following
Concierge in addition to the missions of guarding and keeping order, the concierge is the interlocutor of the residents and makes sure that the residents can contact him in case of need. Laundry the rooms ...
4.2 Average price of a room in private residences
All categories combined, the average national rent for student accommodation ranged from *** euros for a studio (***) to *** euros for a T* . The prices vary naturally according to the type and size of the accommodation, but also according to the city It should be noted that, following the introduction of the new ...
4.3 New trends: the digital residence by PlanetCampus
Work, administrative procedures, health, entertainment, communication and school work. The use of new technologies (***) has already been an enormous part of the daily life of **-** year olds. But the lockdowns of spring and autumn ****, and spring **** and post-Covid-** life have revealed the essential role of Wi-Fi, especially for young people ...
REGULATION
5.1 Regulations
Legal obligations of the property developer
Student residences are subject to the Construction and Housing Code, and more specifically to article L***-** . The definition of a university residence is that of a " establishments intended for collective housing as a principal residence in buildings comprising both private premises, furnished or unfurnished, ...
5.2 Rent control
The rent control was initially created by the law Alur of ** March **** to regulate rents in urban areas with complex rental markets. Its implementation depended on the presence of a rent observatory capable of providing sufficiently representative data. In force for some time in Paris and Lille, it was invalidated in ...
POSITIONING OF THE ACTORS
6. Segmentation
In this section, we will refer to some companies operating student residences. As the study focuses on student residences owned and managed by private investors, we will not focus on public residences, nor on the rental stock in general. We will, however, give the Crous as an example at the beginning ...
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