The latest student accommodation report from Cushman & Wakefield highlights a notable uplift in development activity in Ireland’s student accommodation market, with an estimated 6,180 purpose-built student accommodation (PBSA) bed spaces currently under construction in Dublin.
In addition to the schemes already on site, the report reveals that a further 4,440 bed spaces have planning permission granted, with another 3,385 bed spaces in pre-planning.
Approximately 2,850 bed spaces are due to open in 2018, including GSA Coral’s 571-bed Ardcairn House and 296-bed The Tannery, which will be operated by Uninest.
There are approximately 11,340 bed spaces currently in the Dublin PBSA market and a student population of approximately 75,900. Despite 50.6% of this student population being local Dublin students that may decide to live at home, there remains a 4:1 student to bed ratio, which reflects the significant shortfall in accommodation available in the market today. Having taken first mover advantage with prime locations and having developed strong university relationships, GSA is well placed to continue to deliver positive long-term investor returns in this increasingly competitive market.