University Living, a leading global student housing platform, has released a new report highlighting the challenges faced by students moving abroad while finding a suitable accommodation for themselves. The detailed report covers various student accommodation-related topics and offers in-depth insights into why students struggle to find accommodation, the demand for student housing, etc.
Firstly, through the report, University Living revealed that it had witnessed a 4X growth in demand for student accommodation on its platform in 2022, which is almost a 300 percent increase compared to the previous year. The report also shows that the platform is expecting an almost 5% rise in demand for student housing in 2023.
The report also sheds light on the number of students facing challenges in finding accommodation that is best suited for them. It shows that only 1 out of 6 students find accommodation in university halls, i.e. Only around 16 % of them. The remaining 84 % will have to look for alternate options, such as PBSA (Purpose Built Student Accommodation) or private apartments.
Saurabh Arora, Founder & CEO, University Living said, “As more and more students are leaving their hometowns for their higher education, and many of them even moving overseas, the demand for student housing has drastically increased. However, many face challenges in finding the right accommodation, primarily due to booking late. It’s always best to be an early bird to find housing suited to your requirements.”
He added, “The prices are based on demand and supply, which means that students tend to pay 10-20 per cent more with supply chain changes. Our latest report offers insightful information on the statistics of finding accommodation and what students can do to make their higher education journey as smooth as possible. At University Living, we are on a quest to ensure the best possible end-to-end experiences for students and keep up our growth momentum.”
Incepted in 2015, University Living is a global student housing marketplace. It helps students across the globe find suitable and secure accommodation near their university campuses. Students can consult with a 24/7 support team of accommodation experts to discover, compare and book value-for-money accommodation based on their budget, desired location, and other personal preferences. University Living is also focused on easing the entire student journey and making it a seamless experience through a host of value-added services that enhance our students’ experience.
University Living’s Property Management System enables smooth business operations for the stakeholders. Their 200+ member strong team is constantly reinventing their services to better the user experience and digitally transform the overseas education journey. University Living caters to 300+ popular study-abroad cities and destinations, has 1.75 Million beds availability across all continents, and has 110+ nationalities.