Student residences are part of a booming sector. In Spain, regions such as Madrid, Andalusia, Catalonia, and Castilla La Mancha are currently some of the areas with the highest demand for accommodation.
The continued influx of both national and foreign students who will need room places in the coming years, makes this a very opportune moment to consider investing in assets of this type, which are also a good business strategy.
A student residence is much more than just accommodation.
What are the basic and essential amenities in a student residential property?
A building with these characteristics must be prepared to meet the needs of its guests, we detail the most relevant ones below:
open areas to encourage socialization among members who will be part of the community.
Leisure and rest areas outside the rooms where coexistence can be encouraged.
Terraces and landscaped areas where you can enjoy and relax in the open air.
Facilities for practicing sports, gyms, basketball courts, running circuits, yoga rooms…
Laundry equipment and common kitchens or catering…
It is necessary that the complexes are well connected by public transport or better yet, if they are close enough to the universities so that students can walk.
Close to cities where it is easy to find cultural offerings such as museums, cinemas, theaters, and also leisure options, bars, restaurants, nightclubs, etc. We know that for university students, not everything revolves around studying.
Nearby areas of services, outside the residential space where students are housed.
Have a reception where residents can go and be attended to.
Offices or management offices that facilitate all the administration of the student complex.
Optimize all spaces with high-speed wifi. This will be essential above all else. Without good connectivity, there will be no satisfied students.
In short, the users of these residences will be demanding and want to feel at home.
Student residences are a profitable business with a promising future but…
It is clear that if you put yourself in the hands of a real estate expert, you will save time and money because controlling the rental or acquisition costs of a property with these characteristics is not an easy task and requires a previous economic-financial analysis and many factors that entail its complexity.
As for what capacity is ideal for a business of this type, we could say that it depends, but in general terms, it is always preferable to have a property of a certain size, better with 200 rooms than with only 50, since the management work between the large and the small will be virtually the same.
Where can we find the best locations?
We are seeing that Spain and Portugal have more demand than supply for student dormitory places, therefore it is a latent need because there is not enough supply in such attractive countries.
These are surely only some of the questions you will be asking yourself if you are thinking about exploiting this sector. Rentals, transactions, legal issues, accounting, audits…
At TTS, we always put the interests of our clients first by finding the real estate solution that best fits each case.