NEWARK, Del., Sept. 30, 2024 (GLOBE NEWSWIRE) -- In a dynamic landscape of global higher education, Australia continues to attract international students with its world-class universities and vibrant lifestyle. With 20 prestigious institutions ranked in the QS Top 300 for 2024, Australia has become a hub for academic excellence.
In 2023, international students contributed A$48 billion in revenue to the Australian economy. The number of active international students reached 701,262 in May 2024, highlighting a rapid increase in enrolments from outside Australia.
Recognizing this, amber, a leader in global student housing solutions, has released its comprehensive 'Australia Student Accommodation Annual Report (2024-25)'. This report offers insights into the Australian student housing market, its evolving landscape, and the latest trends shaping the sector.
Download the amber ‘Australia Student Accommodation Annual Report (2024-25)’
The report attempts to decode the student bed market share of private and on-campus accommodations, impact of new policies on students, identify supply-demand challenges, analyse growth of the PBSA sector, and explore the student housing development pipeline.
“This year’s enrollment numbers show a consistent interest from international students. However, due to the revised policies, the student visa grants in Australia have significantly dipped by 31% from July to December 2023, compared to the same time frame last year. It is yet to be seen what the impact of the capping of international students at 270,000 for 2025 will be. This report aims to uncover how the market might react to the ongoing changes.” says Mr. Madhur Gujar, Co-Founder & Chief Business Officer at amber.
Partnered with over 90% of PBSA providers across Australia, amber facilitates international student bookings from 160+ source countries. amber plays a crucial role in enhancing visibility for all student accommodation types, including private apartments, BTR/multifamily, and homestays, offering a comprehensive range of beds to cater to the growing student demand.
Mr. Madhur Gujar, emphasizes the report's significance, stating, “The report aims to equip stakeholders with strategic market knowledge. Demand for Purpose-Built Student Accommodation (PBSA) is expected to rise by 20% in the next three years, alongside growing investment in the BTR sector, signalling strong market opportunities.”
With actionable insights, the 'Australia Student Accommodation Annual Report (2024-25)' serves as a comprehensive resource for stakeholders looking to navigate the complexities of the market, understand economic impacts, and explore new development avenues.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8f46571-ae96-48ac-98cb-bbace6d26b99
