Student halls of residence projects in Portugal draw investors

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Real estate investment in halls of residence for students is increasing in Portugal, according to property consultants Cushman & Wakefield.

In Europe, average investment in student accommodation, has soared nearly 30% with demand from international students, particularly Erasmus, increasing in Lisbon and Porto as availability of apartments, houses and rooms to let become scare and prices unaffordable. 

Cushman & Wakefield reveals in its latest study ‘European Student Accommodation Guide’ that transactions in this real estate segment topped €13.6 million in 2017 in Europe, making this sector an alternative investment category for investors. 

According to C&W, in Portugal various local and foreign investors are looking for opportunities to develop this type of project. At the start of the year the British company Collegiate opened the first purpose-built project for students digs of its kind in Portugal. The company is now looking to invest in other similar projects around Portugal.

Among similar projects currently under development is one by the Austrian company Milestone which aims to open halls of residence on the site of the Nova University campus in Lisbon.

Portugal currently has 362,000 university students (10% of which are foreigners) while there are only 12,000 places currently available for students in university and private halls of residence.