Price Guarantee
At Let and Stay we are so confident in the price that you pay for our service and quality offering that we will not only match but beat any written qoute for accommodation based on the following conditions;
- the accommodation is of similar quality,
- in the same suburb,
- for the same lease term.
Bring your written, verifiable qoute to the office and we will beat the price you pay for the accommodation!
Wednesday, March 24, 2010
Monday, March 1, 2010
Student Accommodation under the spotlight
Geraldine Connell
28 February 2010
Could tax changes to make student accommodation cheaper be on there way?
One of the interesting VAT proposals in the Budget is a review and possibly an amendment which addresses the shortcomings of the VAT legislation relating to accommodation as either commercial or residential. In particular, student accommodation appears to be the focus of the change.
It is well known that South Africa's insufficient student housing accommodation has reached crisis levels - there are far more students requiring accommodation than can be catered for at present. The Department of Higher Education and Learning is anxious to resolve this problem quickly and is increasing funding for student accommodation. Furthermore, educational institutions are encouraged to provide student accommodation as cheaply as possible.
The VAT Act exempts certain supplies from VAT, such as education, passenger transport by road and the letting out of a dwelling. The purpose of exempting supplies from VAT is to reduce the ultimate cost to the end-user by not charging him VAT. Ironically, such a mechanism may sometimes not actually reduce the cost to the end user since the VAT incurred by the supplier becomes a cost and is ultimately on-charged to the end user. So for example, the VAT incurred on acquiring a flat cannot be claimed by the person who lets out that flat as a dwelling.
On the other hand, commercial accommodation in a flat which is supplied together with so-called 'domestic goods and services' is subject to 14% VAT if the total annual receipts for that supply exceed R60 000. So one major difference between whether a supply of accommodation is subject to VAT or exempt, depends on whether the accommodation comes with "domestic goods or services". What are these services?
They include any of the following: cleaning and maintenance; electricity, gas, air conditioning or heating; a telephone, television or similar article; furniture and fittings; meals or laundry. If the accommodation is supplied with any of these, it is subject to 14% VAT.
A "dwelling" is defined as any place used primarily as a natural person's place of residence. The letting of such a place is exempt from VAT provided that no domestic goods and services are provided and that the accommodation is provided on a semi-permanent basis, much like acquiring a home. Confusion could arise here as a result of the fact that a "dwelling" is defined to include fixtures and fittings that belong to it. Arguably, this could alter the tax treatment of the supply of the dwelling since it would also fall within the definition of commercial accommodation with domestic goods and services if the R60 000 income threshold were achieved.
On the surface, it appears that charging VAT on accommodation will make it more expensive for students, but this is not necessarily the case. Not only can the landlord claim back all the VAT on the capital and running costs thereby reducing the overheads, but the VAT Act gives a further concession. If the accommodation is provided for periods of more than 28 days, VAT is only payable on 60% of the all-inclusive charge for the accommodation and the domestic goods and services. The reason that only part of the value of such accommodation is taxed where an occupant stays longer than 28 days, is to place people living in commercial accommodation on a long-term basis on a similar footing to those renting ordinary domestic dwellings. Those living in commercial accommodation should not be paying materially more VAT on their basic accommodation than their residential counterparts.
It will be interesting to see whether the VAT law amendments increase the ambit of the exempt supplies in an attempt to make student accommodation cheaper. Detailed calculations should be done to assess whether exemption from VAT really does lower the price of accommodation or not.
*Geraldine Connell is from Deloitte
28 February 2010
Could tax changes to make student accommodation cheaper be on there way?
One of the interesting VAT proposals in the Budget is a review and possibly an amendment which addresses the shortcomings of the VAT legislation relating to accommodation as either commercial or residential. In particular, student accommodation appears to be the focus of the change.
It is well known that South Africa's insufficient student housing accommodation has reached crisis levels - there are far more students requiring accommodation than can be catered for at present. The Department of Higher Education and Learning is anxious to resolve this problem quickly and is increasing funding for student accommodation. Furthermore, educational institutions are encouraged to provide student accommodation as cheaply as possible.
The VAT Act exempts certain supplies from VAT, such as education, passenger transport by road and the letting out of a dwelling. The purpose of exempting supplies from VAT is to reduce the ultimate cost to the end-user by not charging him VAT. Ironically, such a mechanism may sometimes not actually reduce the cost to the end user since the VAT incurred by the supplier becomes a cost and is ultimately on-charged to the end user. So for example, the VAT incurred on acquiring a flat cannot be claimed by the person who lets out that flat as a dwelling.
On the other hand, commercial accommodation in a flat which is supplied together with so-called 'domestic goods and services' is subject to 14% VAT if the total annual receipts for that supply exceed R60 000. So one major difference between whether a supply of accommodation is subject to VAT or exempt, depends on whether the accommodation comes with "domestic goods or services". What are these services?
They include any of the following: cleaning and maintenance; electricity, gas, air conditioning or heating; a telephone, television or similar article; furniture and fittings; meals or laundry. If the accommodation is supplied with any of these, it is subject to 14% VAT.
A "dwelling" is defined as any place used primarily as a natural person's place of residence. The letting of such a place is exempt from VAT provided that no domestic goods and services are provided and that the accommodation is provided on a semi-permanent basis, much like acquiring a home. Confusion could arise here as a result of the fact that a "dwelling" is defined to include fixtures and fittings that belong to it. Arguably, this could alter the tax treatment of the supply of the dwelling since it would also fall within the definition of commercial accommodation with domestic goods and services if the R60 000 income threshold were achieved.
On the surface, it appears that charging VAT on accommodation will make it more expensive for students, but this is not necessarily the case. Not only can the landlord claim back all the VAT on the capital and running costs thereby reducing the overheads, but the VAT Act gives a further concession. If the accommodation is provided for periods of more than 28 days, VAT is only payable on 60% of the all-inclusive charge for the accommodation and the domestic goods and services. The reason that only part of the value of such accommodation is taxed where an occupant stays longer than 28 days, is to place people living in commercial accommodation on a long-term basis on a similar footing to those renting ordinary domestic dwellings. Those living in commercial accommodation should not be paying materially more VAT on their basic accommodation than their residential counterparts.
It will be interesting to see whether the VAT law amendments increase the ambit of the exempt supplies in an attempt to make student accommodation cheaper. Detailed calculations should be done to assess whether exemption from VAT really does lower the price of accommodation or not.
*Geraldine Connell is from Deloitte
Monday, February 1, 2010
Commune Policy grace period deadline looms
By Thuli Malinga: Northcliff Melville Times
Week ending 29 January 2010
The grace period for the new commune policy which started in August last year is coming to an end and slumlords who continue operating illegally will have to face the law come next month.
The new commune policy was started as a result of the continuing conflict between residents and commune residents.
Some of the concerns raised by the community included noise problems resulting from regular partying by students, overcrowded dwellings and the alteration of the suburbs character in some of the properties.
In order to regulate such issues city council proposed a new policy where commune owners would have to adhere to the following:
There should be a maximum of 10 tenants per commune including the caretaker.
There should be not more than two people in any double bedroom.
Provision shall be made for a common room or rooms and kitchens in the commune.
There should be one bathroom per four tenants
The owner or caretaker of the commune should permanently reside on the property for management purposes and accountability.
Commune management should ensure that a compulsory A3 sign is placed on the front boundary of the property.
This sign should have a 24- hour telephone and email address for residents to contact the manager.
City council has warned that compliance of these by-laws will be monitored by a task team. This includes development management, environmental health, Saps, Johannesburg Metropolitan Police Department, councilors, student accommodation forums and residents associations.
They will also have partnerships with tertiary institutions alike. More information on the commune policy can be obtained from the City of Johannesburg website.
Week ending 29 January 2010
The grace period for the new commune policy which started in August last year is coming to an end and slumlords who continue operating illegally will have to face the law come next month.
The new commune policy was started as a result of the continuing conflict between residents and commune residents.
Some of the concerns raised by the community included noise problems resulting from regular partying by students, overcrowded dwellings and the alteration of the suburbs character in some of the properties.
In order to regulate such issues city council proposed a new policy where commune owners would have to adhere to the following:
There should be a maximum of 10 tenants per commune including the caretaker.
There should be not more than two people in any double bedroom.
Provision shall be made for a common room or rooms and kitchens in the commune.
There should be one bathroom per four tenants
The owner or caretaker of the commune should permanently reside on the property for management purposes and accountability.
Commune management should ensure that a compulsory A3 sign is placed on the front boundary of the property.
This sign should have a 24- hour telephone and email address for residents to contact the manager.
City council has warned that compliance of these by-laws will be monitored by a task team. This includes development management, environmental health, Saps, Johannesburg Metropolitan Police Department, councilors, student accommodation forums and residents associations.
They will also have partnerships with tertiary institutions alike. More information on the commune policy can be obtained from the City of Johannesburg website.
Saturday, December 5, 2009
Luxury student digs prove a lucrative investment
From The Times December 3, 2009
Kaya Burgess
It will loom like a razor blade above the City, but when the 33-storey tower block opens next year, it will be tapping into a very different — and very profitable — market to the banks that it will overlook.
Student accommodation is booming. Rentals have proved to be one of the few recession-proof areas of the property market, rising despite the general economic downturn, and Blackstone, the world’s largest private equity company, is among those aiming for a slice of the pie.
Next summer it will open Nido Spitalfields, the second in its portfolio of large-scale, high-end student digs in the capital. The building near Liverpool Street, in the City of London, will open its doors to 1,200 students in time for the 2010-11 academic year.
“The credit crunch really hasn’t hit the student accommodation market,” Maureen McDermott, manager of European student accommodation for Blackstone, said. “We’ve had great success with keeping our building in King’s Cross occupied, and are even planning to open the Spitalfields building a month or so earlier than planned.”
Stuart Grant, a managing director at Blackstone who is overseeing the £250 million project, said: “There are a growing number of students in London and a limitation on the number of beds provided by the private sector or universities. There are more than 260,000 students in London, but only about 45,000 beds. When there is that chronic supplydemand imbalance, it means that as a sector it’s an interesting investment opportunity.”
The students’ pockets will have to be deep enough to afford the £260 per week being asked for the ensuite rooms set in spacious apartments over 33 floors.
“The Nido offer is focused mainly on foreign students, Mr Grant said. “So our customer, in my mind, is not only the student, but also the parent in America or China who is willing to pay up for our product, offering safety, security and good amenities in a central location.”
The New York-based Blackstone knows the development’s area well: the 105-metre skyscraper will overlook Broadgate, the office complex that is half-owned by the private equity fund. On site yesterday, construction workers teetered amid the wind and rain to keep the downpour from seeping into the unfinished building, where a number of showrooms stand ready as an example of the clean-cut luxury that will be awaiting students. Designed by TP Bennett, the building will offer its residents catering areas, a gym, WiFi internet and state-of-the-art mod-cons in all rooms. Where lorries and vans rolled in yesterday will be a lobby with underfloor heating, a games area and a café, paid for with keycards that alert staff if a student has not been in (or out) of their room for a long period.
On Pentonville Road near King’s Cross, Blackstone’s first Nido building — nido means nest in Spanish — is already home to about 900 students from 85 nationalities, 40 per cent of whom are from the United States.
Three years ago Blackstone moved from snapping up traditional real estate and began buying operating real estate such as shopping malls and residences.
Planning permission has been granted for Blackstone to begin work on a third student site in Notting Hill, West London, which would open to 272 students in early 2011.
Kaya Burgess
It will loom like a razor blade above the City, but when the 33-storey tower block opens next year, it will be tapping into a very different — and very profitable — market to the banks that it will overlook.
Student accommodation is booming. Rentals have proved to be one of the few recession-proof areas of the property market, rising despite the general economic downturn, and Blackstone, the world’s largest private equity company, is among those aiming for a slice of the pie.
Next summer it will open Nido Spitalfields, the second in its portfolio of large-scale, high-end student digs in the capital. The building near Liverpool Street, in the City of London, will open its doors to 1,200 students in time for the 2010-11 academic year.
“The credit crunch really hasn’t hit the student accommodation market,” Maureen McDermott, manager of European student accommodation for Blackstone, said. “We’ve had great success with keeping our building in King’s Cross occupied, and are even planning to open the Spitalfields building a month or so earlier than planned.”
Stuart Grant, a managing director at Blackstone who is overseeing the £250 million project, said: “There are a growing number of students in London and a limitation on the number of beds provided by the private sector or universities. There are more than 260,000 students in London, but only about 45,000 beds. When there is that chronic supplydemand imbalance, it means that as a sector it’s an interesting investment opportunity.”
The students’ pockets will have to be deep enough to afford the £260 per week being asked for the ensuite rooms set in spacious apartments over 33 floors.
“The Nido offer is focused mainly on foreign students, Mr Grant said. “So our customer, in my mind, is not only the student, but also the parent in America or China who is willing to pay up for our product, offering safety, security and good amenities in a central location.”
The New York-based Blackstone knows the development’s area well: the 105-metre skyscraper will overlook Broadgate, the office complex that is half-owned by the private equity fund. On site yesterday, construction workers teetered amid the wind and rain to keep the downpour from seeping into the unfinished building, where a number of showrooms stand ready as an example of the clean-cut luxury that will be awaiting students. Designed by TP Bennett, the building will offer its residents catering areas, a gym, WiFi internet and state-of-the-art mod-cons in all rooms. Where lorries and vans rolled in yesterday will be a lobby with underfloor heating, a games area and a café, paid for with keycards that alert staff if a student has not been in (or out) of their room for a long period.
On Pentonville Road near King’s Cross, Blackstone’s first Nido building — nido means nest in Spanish — is already home to about 900 students from 85 nationalities, 40 per cent of whom are from the United States.
Three years ago Blackstone moved from snapping up traditional real estate and began buying operating real estate such as shopping malls and residences.
Planning permission has been granted for Blackstone to begin work on a third student site in Notting Hill, West London, which would open to 272 students in early 2011.
Thursday, December 3, 2009
Corporates squeeze market for private student landlords - UK
Posted on December 1st, 2009 by steve
Institutional investors are deserting the commercial property sector to pump hundreds of millions in to student housing investments.
Fund managers see student letting as more stable than commercial letting as the double risk of offering incentives to tenants and the chance a tenant may go out of business do not apply to students.
HMO landlords under pressure
Private student landlords are coming under pressure from two sides now – councils stepping up regulatory requirements and licensing costs on HMOs (houses in multiple occupation) and big corporate landlords with the financial clout to house hundreds of students in university towns and cities.
The move by institutional investors is confirmed by the UK’s largest student room provider UNITE, a public listed company that has £325 million to invest in the sector – with £133 million already raised by institutions with another £23 million pledged.
The company also said like-for-like rental growth increased to 9.7% between July 1 and November 18 2009.
Students pay corporates millions in rent
UNITE has a portfolio of student accommodation valued at £877 million at the end of September, and this is expected to grow to more than £1 billion. The company houses 39,000 students in 126 properties in 33 towns and cities across the UK.
Another large student housing investor, University Partnerships Programme (UPP) has signed off a £115 million student housing deal with the University of Nottingham.
UPP has committed to refurbishing 850 rooms, providing students with affordable, high quality accommodation.
This major deal follows UPP’s recent £133m transaction with the University of Exeter.
Through these two transactions, UPP has put £250 million of new private investment, including institutional funds, into the higher education sector in less than six weeks.
UPP expects to provide accommodation for 35,000 students by 2012. Currently, UPP has 18,000 rooms for students paying £85 million a year in rent.
Institutional investors are deserting the commercial property sector to pump hundreds of millions in to student housing investments.
Fund managers see student letting as more stable than commercial letting as the double risk of offering incentives to tenants and the chance a tenant may go out of business do not apply to students.
HMO landlords under pressure
Private student landlords are coming under pressure from two sides now – councils stepping up regulatory requirements and licensing costs on HMOs (houses in multiple occupation) and big corporate landlords with the financial clout to house hundreds of students in university towns and cities.
The move by institutional investors is confirmed by the UK’s largest student room provider UNITE, a public listed company that has £325 million to invest in the sector – with £133 million already raised by institutions with another £23 million pledged.
The company also said like-for-like rental growth increased to 9.7% between July 1 and November 18 2009.
Students pay corporates millions in rent
UNITE has a portfolio of student accommodation valued at £877 million at the end of September, and this is expected to grow to more than £1 billion. The company houses 39,000 students in 126 properties in 33 towns and cities across the UK.
Another large student housing investor, University Partnerships Programme (UPP) has signed off a £115 million student housing deal with the University of Nottingham.
UPP has committed to refurbishing 850 rooms, providing students with affordable, high quality accommodation.
This major deal follows UPP’s recent £133m transaction with the University of Exeter.
Through these two transactions, UPP has put £250 million of new private investment, including institutional funds, into the higher education sector in less than six weeks.
UPP expects to provide accommodation for 35,000 students by 2012. Currently, UPP has 18,000 rooms for students paying £85 million a year in rent.
Friday, November 27, 2009
Student housing going fast
23 Nov 2009
If you or your children are studying in Cape Town and haven't sorted out accommodation for the 2010 academic year, you'd best get started because rental units are going fast.
Estate agents in Cape Town's southern suburbs say enquiries for rental units in suburbs like Rondebosch, Rosebank, Claremont, Mowbray and Newlands have been picking up steadily since September.
This is despite the option of campus residence, which becomes infra dig after first year.
Chorus Letting agent Paul Theunissen said they were definitely experiencing and increase in enquires for letting in the southern suburbs as students set themselves up for the next year.
Theunissen said most students preferred living near the institutions at which they were studying, with Rosebank and Rondebosch being most popular for Cape Peninsula University of Technology students, while University of Cape Town students looked in a range from the CBD to Wynberg in the south.
As to what parents or students could expect to pay, he said bachelor and one-bedroom flats would cost between R3k to R4k per month while two-bedroom apartments could go up to R7k per month.
Although many students had already signed leases for next year's accommodation, there were always latecomers.
"We are expecting the phones to ring off the hook from around January 4," he said.
Brenda Dickinson and Associates rental division director Taryn Hulne said the majority of leases starting in January 2010 would be finalised by the end of November.
Hulne said students and parents want to ensure that they've finalised these accommodation plans before they went home for their summer vacation.
She said there was also a lot of interest from foreign students who were going to be studying in Cape Town for post-graduate degrees or were on international exchange programmes.
IIFM agent Margi Bate said students were definitely one of the main drivers of the rental market in the southern suburbs.
Bates said they were usually busier from November until tertiary institutions opened in February the following year, and again in July due to foreign and post-graduate students picking up their tuition in the middle of the year.
She said she got enquiries from as far afield as Zimbabwe and Uganda.
She said one and two-bedroom apartments were popular among students, depending on whether they wanted to share accommodation or live alone.
Lewis Kennett, sales agent for Homenet/Harcourts Jon Rosenberg, says the Auckland Park area in Johannesburg has "without a doubt" seen a gargantuan upsurge in demand for student accommodation in November. The area is home to the University of Johannesburg and a stone's throw away from the University of Witwatersrand.
"As the varsities' student numbers grow, so the demand for accommodation grows. There is currently a real shortage of properties to meet this demand and we're only in November now.
"The demand is split according to the income of the student's parents. The students with wealthier parents are able to purchase and rent flats and townhouses to satisfy their need for privacy, while the poorer students tend to go for less expensive, communal accommodation," he says.
Bloemfontein's student housing market will also receive a boost with the launch of a new development set to be built next to the university campus.
Riaan Malan of the local Aida franchise says only about 5,000 of the 28,000 students at the University of the Free State can be accommodated in varsity residences. "That means that every year 23,000 students need accommodation, either at home in the city or in student housing, which represents a large percentage of our residential demand.
"Traditionally, students used to start looking for accommodation for the next academic year in November, but limited availability has seen prospective tenants putting their names on waiting lists earlier and earlier. This year we already had an extensive waiting list at the beginning of August."
Malan says the planned Uniloft apartment development opposite the campus will hopefully go some way to relieving the pressure on demand. "The developers are now just waiting for final rezoning approval and intend to start construction early next year, with the expected occupation date being January 2011."
He also says the developers are still negotiating final marketing prices in an effort to make units as affordable as possible, but that the 43sqm two-bedroom apartments are expected to be offered at prices between R600k and R700k.
"Investors can expect rentals of up to R5k a month if the units are let to two students."
The 370 units will be marketed off-plan and will feature high security as well as services specifically tailored to student living, such as laundry and recreational facilities. All units will be fully furnished. – Eugene Brink and West Cape News
If you or your children are studying in Cape Town and haven't sorted out accommodation for the 2010 academic year, you'd best get started because rental units are going fast.
Estate agents in Cape Town's southern suburbs say enquiries for rental units in suburbs like Rondebosch, Rosebank, Claremont, Mowbray and Newlands have been picking up steadily since September.
This is despite the option of campus residence, which becomes infra dig after first year.
Chorus Letting agent Paul Theunissen said they were definitely experiencing and increase in enquires for letting in the southern suburbs as students set themselves up for the next year.
Theunissen said most students preferred living near the institutions at which they were studying, with Rosebank and Rondebosch being most popular for Cape Peninsula University of Technology students, while University of Cape Town students looked in a range from the CBD to Wynberg in the south.
As to what parents or students could expect to pay, he said bachelor and one-bedroom flats would cost between R3k to R4k per month while two-bedroom apartments could go up to R7k per month.
Although many students had already signed leases for next year's accommodation, there were always latecomers.
"We are expecting the phones to ring off the hook from around January 4," he said.
Brenda Dickinson and Associates rental division director Taryn Hulne said the majority of leases starting in January 2010 would be finalised by the end of November.
Hulne said students and parents want to ensure that they've finalised these accommodation plans before they went home for their summer vacation.
She said there was also a lot of interest from foreign students who were going to be studying in Cape Town for post-graduate degrees or were on international exchange programmes.
IIFM agent Margi Bate said students were definitely one of the main drivers of the rental market in the southern suburbs.
Bates said they were usually busier from November until tertiary institutions opened in February the following year, and again in July due to foreign and post-graduate students picking up their tuition in the middle of the year.
She said she got enquiries from as far afield as Zimbabwe and Uganda.
She said one and two-bedroom apartments were popular among students, depending on whether they wanted to share accommodation or live alone.
Lewis Kennett, sales agent for Homenet/Harcourts Jon Rosenberg, says the Auckland Park area in Johannesburg has "without a doubt" seen a gargantuan upsurge in demand for student accommodation in November. The area is home to the University of Johannesburg and a stone's throw away from the University of Witwatersrand.
"As the varsities' student numbers grow, so the demand for accommodation grows. There is currently a real shortage of properties to meet this demand and we're only in November now.
"The demand is split according to the income of the student's parents. The students with wealthier parents are able to purchase and rent flats and townhouses to satisfy their need for privacy, while the poorer students tend to go for less expensive, communal accommodation," he says.
Bloemfontein's student housing market will also receive a boost with the launch of a new development set to be built next to the university campus.
Riaan Malan of the local Aida franchise says only about 5,000 of the 28,000 students at the University of the Free State can be accommodated in varsity residences. "That means that every year 23,000 students need accommodation, either at home in the city or in student housing, which represents a large percentage of our residential demand.
"Traditionally, students used to start looking for accommodation for the next academic year in November, but limited availability has seen prospective tenants putting their names on waiting lists earlier and earlier. This year we already had an extensive waiting list at the beginning of August."
Malan says the planned Uniloft apartment development opposite the campus will hopefully go some way to relieving the pressure on demand. "The developers are now just waiting for final rezoning approval and intend to start construction early next year, with the expected occupation date being January 2011."
He also says the developers are still negotiating final marketing prices in an effort to make units as affordable as possible, but that the 43sqm two-bedroom apartments are expected to be offered at prices between R600k and R700k.
"Investors can expect rentals of up to R5k a month if the units are let to two students."
The 370 units will be marketed off-plan and will feature high security as well as services specifically tailored to student living, such as laundry and recreational facilities. All units will be fully furnished. – Eugene Brink and West Cape News
Tuesday, November 24, 2009
Student Digs will beat commercial property
UK real estate forecast: 5% for student homes, almost zero for office blocks.
Knight Frank forecasts continued rental growth in student accommodation sector
Highlights
Rental growth in the student accommodation sector remains robust, recording growth of 5% per annum over the last six years, compared to 0.6% for commercial property. Substantially higher growth was achieved in key university towns over the last academic year.
Demand for university places continues to rise. Preliminary figures suggest a further increase in demand for places in the 2010/11 academic year, with UCAS reporting a 12% rise in applications at its October deadline.
As an asset class, the student accommodation sector is maturing and becoming recognised as an important element of the wider property investment market. Since mid 2009, there been increased demand for secure income producing assets and demonstrable yield compression.
Source: realestateweb
Knight Frank forecasts continued rental growth in student accommodation sector
Highlights
Rental growth in the student accommodation sector remains robust, recording growth of 5% per annum over the last six years, compared to 0.6% for commercial property. Substantially higher growth was achieved in key university towns over the last academic year.
Demand for university places continues to rise. Preliminary figures suggest a further increase in demand for places in the 2010/11 academic year, with UCAS reporting a 12% rise in applications at its October deadline.
As an asset class, the student accommodation sector is maturing and becoming recognised as an important element of the wider property investment market. Since mid 2009, there been increased demand for secure income producing assets and demonstrable yield compression.
Source: realestateweb
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