Student digs are the new investment trend
Interest in the student accommodation market is growing rapidly and causing a race for assets as investors go vertical to cater for the growth of inner-city residents.
The Australian Education Fund is expanding, while other groups including UniLodge and private developers are snapping up any potential sites.
In January this year a joint venture between Singaporean sovereign wealth fund GIC and Macquarie Capital bought a majority interest in student accommodation group Iglu. Although the actual investment figure has not been released it is widely regarded as the largest single transaction in Australia’s student accommodation sector.