London has been overtaken by Paris as the top spot for student housing according to research from Knight Frank.
Its high cost of living was cited as the main reason for its decline from the number one position. Vienna, Dublin and Barcelona complete the top five positions.
James Pullan, Head of Student Property for Knight Frank, said: “Student accommodation in the U.K. has delivered solid and consistent returns throughout every year of the economic downturn, thereby attracting significant volumes of international equity and institutional debt into the sector.”
The number of students travelling overseas to attend university has been rising steadily in recent decades, and this trend is set to continue. Just as the world’s economies have become more globalised, with the relaxation of trade barriers, education has also become a global commodity. Students from Thailand now make up 2 percent of all overseas non-European Union students studying in the U.K.
Pullan added: “The rise in global student mobility has created an excellent opportunity for investment in key European cities and is a long-term trend that is set to continue. This structural shift in the make-up of student populations has significant consequences for cities that play host to the world’s best universities, and throws up key opportunities for developers and operators.”
The full Knight Frank Student Research 2012 report can be viewed HERE.
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