Student co-living to attract USD 700-mn investment in 5 years: Report

The student housing segment in India will see an investment of USD 700 million by the year 2023, a report said on Thursday.

The student co-living segment is witnessing a rapid growth across all the major markets in the country and is expected to witness a growth of 36 per cent between 2019 to 2023, the report by realty consultant CBRE and the Student Accommodation Provider Association of India (SAPFI) said.

"The student housing or co-living space is expected to witness an investment worth USD 700 million and an addition of 0.6 million beds by 2023 across the country," the report titled 'The Herald of a New Chapter: Student Accommodation in India' which was released on Thursday said.

Currently, on an average, only one hostel bed is available to six students enrolled for higher education in the country, which poses an opportunity for investors in this nascent market, it said.

"Additionally, there are numerous Tier II markets with significant student population. Tapping the gap in segment, the top players in student housing or co-living space offered a cumulative stock of more than 250,000 beds as of August 2019."