Student Housing: Developers Are Relying on International Students to Fill Units
International students account for 4% to 5% of US college enrollment and are a critical source of demand for student housing property managers.
There are more than 800k foreign students enrolled in US universities despite the cost of college being the most expensive in the world. The most foreign students in the US come from China, India and South Korea.
“We need to cater to other cultures…and have folks on the ground to make sure they are comfortable,” says Brian Veith, director of student housing with the National Multifamily Housing Council.
Property managers at the nation’s universities offer foreign students the choice to live with other international students, and many try to include some of their native foods at campus cafeterias.
It’s become a business essential for university property managers to keep international students happy; without them student housing businesses would be in trouble. [NREI]
