Are you one of Glasgow’s 52,255 full time students? Looking for digs by any chance?
Despite being home to the University of Glasgow, and three other universities, Glasgow’s supply of student housing has always been dwarfed by demand.
Glasgow is a popular student town. It’s ranked 3rd in the UK by the International Student Barometer with undergraduate satisfaction levels of 90% and 54 in the QS World University Rankings 2012. Quite simply, the University of Glasgow remains in the top 1% of institutions in the world.
So with such popularity also comes a serious problem. Glasgow has a chronic shortage of student accommodation. There are only 9,395 purpose built beds for more than 52,255 full time students who attend the four main higher education institutions.
“As a rapidly growing university city, attracting both domestic and increasingly international students, the need for purpose built student accommodation is higher than ever”.
Although demand far outstrips supply with abut 9 full time students for every bed space Glasgow does boast some pretty good student digs.
For most students however, getting a place in Halls of Residence is a lottery, so private rentals are the only real option for now, and the fundamental imbalance does push and keep rental prices to a premium.
So what’s to be done about it?
Often strong demand for a limited resource indicates a buoyant market and as government funding for large, complex, residential developments is often limited, UK student accommodation has become an increasingly appealing opportunity for equity investors. After all, unlike residential housing in recent years, student accommodation has offered a proven, buoyant and attractive ROI.
with £2 billion already injected into the UK market this year and 50 million of that headed for Glasgow the outlook looks good. However, developers and letting agents agree that the challenges for investors will always be good site availability, capped rentals and the specter of rising tuition fees.
There have been many plans submitted. We like the look of this complex.
What do you think?
Has the shortage in halls of residence effected you? Would new student housing make a difference to you and to Glasgow as a whole? Do you think tuition fees will effect the number of people applying for places?
Whatever your thoughts, have your say in the comments box below, and please share the conversation with a +1 – it only takes a moment.
Oh and before we go…
We found this really comprehensive Student Accommodation Guide produced by City of Glasgow College. It’s designed to help students better understand the in’s and out’s of renting accommodation in Glasgow.