European PBSA Market Dynamics

Discover PBSA market dynamics across Europe

Explore the interactive map below updated on a quarterly basis. Search for or click on a city to learn about student demand with the total number of students and share of international students, student housing supply with total PBSA provision rates, and quality of education with the number of highly ranked universities. This map covers 30 cities across 13 countries but JLL has much more insight to share. If you would like to know more, please get in touch with us through the contacts below.

Key research findings

At €3.6bn invested in the first nine months of 2023, overall investment is 12% down year-on-year. Investment has been improving throughout the year, Q3 marks the third consecutive quarter of rises, with €1.7bn invested up 35% quarter-on-quarter. This brought the 12-month rolling investment down just 3% on the five-year average and 22% above the ten-year average.

Despite this, high interest rates are still affecting transactional activity. The student housing sector also offers a pricing advantage compared to other real estate sectors, with an average European prime net initial yield of 4.88%. Yields have proven more resilient than other real estate sectors, moving out on average 62 basis points since Q1 2022.

Many markets are experiencing full occupancy rates and student housing rental growth outpacing historically higher PRS rental growth. This is being driven by heightened demand and student housing undersupply, which shows no signs of abating.

Find out more about European PBSA market performance

Talk to us about PBSA

Let's talk

Julia Martin Head of Student Housing, JLL Capital Markets, EMEA

+44 (0)7776 423125

Mason Gillard-Ellis Director of Student Housing, JLL capital markets, EMEA

+44 7892 704502

Nick Whitten Head of EMEA & UK Living Research

+44 7525 582869

Dominika Mocova Senior Analyst, Living Research and Strategy, EMEA

Emma Rosser Director, Living Research and Strategy, EMEA

JLL EMEA PBSA

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