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Thousands of students want accommodation

Jan 24 2014 15:11
PropertyWheel
Cape Town - As students get ready to go to universities and colleges, thousands of them are realising that securing a coveted space at a tertiary campus was just the first hurdle, and that finding a place to live and study poses challenges of its own, reported Property Wheel.

“We are fielding an unprecedented number of calls from students desperate for quality, affordable accommodation close to campuses,” said Rob Wesselo, Managing Partner at International Housing Solutions (IHS), which has one of SA’s largest private student accommodation portfolios.

He says because of the huge and growing demand, IHS is dedicating a significant chunk of its second fund to ensuring an increased supply of student housing units in coming years.

The global private equity investor expects this strategy to deliver returns in excess of 20%.

IHS recently launched the second fund, IHS Fund II, in the wake of the massive success of its first fund, the SA Workforce Housing Fund, which enabled the large-scale development of affordable housing in South Africa.

The latest statistics further show a shortfall of 207 800 university beds, and that does not include the shortfall of accommodation for private tertiary institutions.

An estimated 400 000 students are currently enrolled at FET colleges, the vast majority of which do not have any on-campus accommodation.

property  |  housing
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