What's driving the demand in India’s nascent student housing market?
student housing market is booming, fuelling ample opportunities for growth and spurring expansion among existing players.
Student housing operators including your-space, Zolostays and Curated Living are chalking up ambitious expansion plans as they target more than 50% growth in FY24, buoyed by robust demand from both domestic and international students.
Curated Living intends to expand its current bed capacity by as much as 2.5 times by end-FY25 while Zolo Scholar, the student housing segment of Zolostays, is looking to double its portfolio by end-FY24. Your-space plans to close this fiscal with 15,000 beds, increasing it to 25,000 by the end of next year.
Operators say a bevy of factors are driving the boom in purpose-built student accommodations (PBSAs): India’s young population, increasing enrolment in higher education, surge in students migrating to cities with a greater concentration of educational institutions, growing investor and developer interest, and students’ preference for quality, organised accommodation.
Like in the case of 21-year-old Mohammed Ali who zeroed in on Ivy League House (Curated Living’s student housing brand) when he moved from UAE to Pune for studies.
