The PBSA sector has registered another strong year with occupancy rates and rents rising,  according to the newly released Student Housing Annual Report by Bonard. While soaring inflation, interest rates and rising costs in the last quarter of 2022 have slowed down investment transactions, the overall outlook is positive and experts expect the sector to keep growing in the next two years.

According to Savills, the total investment volume for Purpose Built Student Accommodation (PBSA) in Europe reached €11.7 billion in the first three quarters of 2022, a 130% increase on the same period in 2021 and a record high.

Berlin-based Catella Residential Investment Management GmbH has sold two centrally located fully-let residential and student housing assets in Warsaw and Kraków in Poland to institutional investors in Austria and the Netherlands for more than €60 million on behalf of Munich-headquartered AIFM platform Catella Real Estate AG (CREAG).

Student housing, co-living and hospitality properties continue to shine in the CEE region. Despite some legal discrepancies, heavily undersupplied, they remain the assets sought-after by investors, claim the experts of CEE Property Forum 2022.

Kajima Student Housing and Griffin Capital Partners have completed the development of a 795-bed Student Depot dormitory in Kraków, its largest residential scheme in Poland since the partnership entered the Polish market in 2019. The construction of the 11-storey, 25,000 sqm building took 17 months, making it one of the fastest large-scale residential developments with fit-out completed in Poland.

Purpose-built student accommodations are in short supply across the region, but some investors and developers find them very attractive. However, due to the recent dramatic economic changes, companies need to adapt to tougher business conditions and adjust their development pipelines accordingly, says Bálint Botos, Managing Partner of Forestay Group.

Zeitgeist Asset Management has obtained a loan from Česká spořitelna for the largest ever refinancing of its portfolio in the amount of €113 million (CZK 2.7 billion). In total, it concerns 23 properties with a total value of €220 million, located in various Prague locations. These are mainly residential properties with apartments for rent and private campuses for student accommodation.

Solida Capital and Xior have formed a joint venture in Poland to jointly develop student housing projects. The first investment will be a student dormitory located in the Old Town area of the capital, close to the University of Warsaw campus.

Kajima Properties has completed the development of one of Gdansk’s first built-to-rent schemes. A joint venture with local investor Tonsa and Olivia Business Centre, it marks Kajima’s first built-to-rent project in Poland and delivers a range of units from studios to three-bedroom family apartments. The building has been incorporated within the new @Home operational platform and has quick access to central Gdańsk, Olivia Business Centre and the rest of the Tri City area. The 3,185 sqm building has been fully let.

Xior Student Housing has signed a deal with Basecamp Group, European Student Housing Fund I and European Student Housing Fund II to purchase Basecamp's portfolio of private student accommodation for €939 million.