Property Week has reported the list of the top 10 student cities in Europe for Purpose Built Student Accommodation (PBSA). Sheffield is positioned the remarkable seventh place in the top ten across the whole of Europe, with five of the six cities above Sheffield being major European capital cities.
Due to their status as capital cities, often these opportunities are cost prohibitive for many independent investors which allows Sheffield to secure a place as one of the most accessible cities for investment on the list with considerably lower barriers to entry than major cities such as London, Paris and Berlin.
With Sheffield being home to two major UK universities with over 63,000 students, alongside the University of Sheffield being a member of the prestigious Russell Group, the opportunity that the city of Sheffield offers to investors is exceptional. The list of the top 10 in Europe is as follows:
Top 10 European Cities for Student Property
Source: Property Week
Sheffield has historically had an undersupply of purpose-built student accommodation (PBSA) from a rapidly growing student population, prompted by the attractiveness of the city to international students. Sheffield has a thriving community of over 8,000 international students and growing from over 125 countries around the world, living, learning and spending in the city, worth over £120 million each year to the local economy.
Naturally, this has led students with no choice but to live with unknown strangers in securing houses of multiple occupancy (HMO’s), some of which provide an unacceptable standard of living particularly to an international student. Alongside the potential for a poor standard of accommodation on offer, these HMO’s are often located in areas such as Broomhall, Crookes and Walkley which are located a long way from the cities central University Campuses.
Therefore, purpose-built student accommodation offers students the ability to have their own kitchen, bathroom and bedroom facilities without negotiations or potential disagreements with other students and landlords, whilst having access to numerous on-site communal facilities to support their learning and provide a higher standard of living than can be provided by HMO’s.
Looking beyond these top ten European cities, Sheffield attracted more investment in students than the US major cities of Chicago and Seattle, both of which are home to five universities each. This adds further credibility to the already popular city of Sheffield, and a fantastic opportunity for investors to tap into the purpose-built student accommodation market today.
Read more on Sheffield’s exceptional student market in our Spotlight article by clicking HERE