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Survey says China, India, Vietnam trigger demand for higher education, better housing options in destination countriesSurvey says China, India, Vietnam trigger demand for higher education, better housing options in destination countries
Globally, the student housing market as a whole is estimated to be worth in excess of $200 billion, with study-abroad student numbers expected to increase from around 165 million today to 263 million by 2025. Market transaction volumes worldwide for the year ending June 2012 were $4.7 billion, with more assets trading above $50 million, showing healthy investor appetite for this asset class, according to real estate services firm Jones Lang LaSalle's new global student housing report.
“Strong economic growth in the key Asian markets has fuelled higher education enrolments globally. Over the past decade, countries like China, India and Vietnam have experienced rapid growth in the wealthier middle class, which has spurred demand for higher education and better housing options in destination countries,” Philip Hillman, lead director (student housing and higher education), Jones Lang LaSalle, said in a release on Thursday.
The increasing number of students from Asia choosing to study outside of their home country has played a key role in developing the student housing sector into a global real estate asset class.
In recent years, Asia has increased its market share as a source market for international students from 48% in 2004 to 52% in 2009. In fact, the top five source markets globally are China, India and South Korea, followed by Germany and France in fourth and fifth. On the flip side, the most popular destinations for these students are the US, the UK, Australia, Germany and France, according to the report.
“Student housing is one of the most vibrant Indian real estate markets in the foreseeable future,” said Anuj Puri, chairman and country head, Jones Lang LaSalle India. “Dense student populations that exist around prominent colleges positively affect the demand for residential spaces as well as restaurants and small retail spaces. As such, educational institution lend value to a location.”
Stating that the future of this sector in India, in fact is extremely promising, Puri said the country’s top 10-15 corporate schools had plans to develop a total of 800–1,000 schools over the next decade, aiming to deliver quality education to far-flung parts of the country.
“The corporate higher education industry is expected to build close to 10 million sft of educational institution space over the next few years, and this not includes the rapid expansion plans that are underway to build new IITs and IIMs and other reputed educational institutions. The demand for the right kind of student housing that such a scenario presents can well be imagined,” he added.
http://business-standard.com/india/news/student-housing-sector-now-worth-200-bn-globally/195067/on
Globally, the student housing market as a whole is estimated to be worth in excess of $200 billion, with study-abroad student numbers expected to increase from around 165 million today to 263 million by 2025. Market transaction volumes worldwide for the year ending June 2012 were $4.7 billion, with more assets trading above $50 million, showing healthy investor appetite for this asset class, according to real estate services firm Jones Lang LaSalle's new global student housing report.
“Strong economic growth in the key Asian markets has fuelled higher education enrolments globally. Over the past decade, countries like China, India and Vietnam have experienced rapid growth in the wealthier middle class, which has spurred demand for higher education and better housing options in destination countries,” Philip Hillman, lead director (student housing and higher education), Jones Lang LaSalle, said in a release on Thursday.
The increasing number of students from Asia choosing to study outside of their home country has played a key role in developing the student housing sector into a global real estate asset class.
In recent years, Asia has increased its market share as a source market for international students from 48% in 2004 to 52% in 2009. In fact, the top five source markets globally are China, India and South Korea, followed by Germany and France in fourth and fifth. On the flip side, the most popular destinations for these students are the US, the UK, Australia, Germany and France, according to the report.
“Student housing is one of the most vibrant Indian real estate markets in the foreseeable future,” said Anuj Puri, chairman and country head, Jones Lang LaSalle India. “Dense student populations that exist around prominent colleges positively affect the demand for residential spaces as well as restaurants and small retail spaces. As such, educational institution lend value to a location.”
Stating that the future of this sector in India, in fact is extremely promising, Puri said the country’s top 10-15 corporate schools had plans to develop a total of 800–1,000 schools over the next decade, aiming to deliver quality education to far-flung parts of the country.
“The corporate higher education industry is expected to build close to 10 million sft of educational institution space over the next few years, and this not includes the rapid expansion plans that are underway to build new IITs and IIMs and other reputed educational institutions. The demand for the right kind of student housing that such a scenario presents can well be imagined,” he added.
http://business-standard.com/india/news/student-housing-sector-now-worth-200-bn-globally/195067/on
1 comments:
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Indian Housing Sector
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