Revealed: Massive Undersupply Of Dublin Student Beds
Dublin has just 11,340 purpose-built student bedrooms for a student population of 76,000, new research into the under-supply in the sector has revealed.
According to Cushman & Wakefield/Sherry Fitzgerald, whilst a further 2,850 will become available this year, with 6,180 under construction, the data reveals the "depth of the supply imbalance" The Irish Times reports.
U.S. investors BlackRock and Hines are among the international players who have spotted "significant opportunities" researchers said. The investment brings with it a massive increase in the quality of student housing in the city.
In 2016 Hines stepped up their involvement in the sector, paying €162M for four student housing sites on behalf of German investors including the 470-bed Binary Hub in the Liberties, and sites on Dosert Street, Cork Street and Summerhill.
BlackRock is behind the 935-bed Point Campus in the Dublin Docklands. The 2.3-acre site was reportedly sold in 2016 for €20M to O’Flynn Capital Partners, with the support of BlackRock.
The latest research shows another 4,400 beds have planning permission, and they estimate that plans for a further 3,385 beds have yet to make it into the planning system.
