Student Accommodation Opportunities
Studio apartments are also perfect for student accommodation, with an increasing demand for self-contained spaces in student developments. Student accommodation is one of the most robust and thriving sectors of the UK property market. With rising tuition fees for British students and higher costs for overseas students, extra spending on housing is more common. Recently, an increasing number of students are opting for high-end purpose built student accommodation (PBSA). Investment in student housing was up to £4 billion in 2017, an impressive 25% above the previous year. Luxurious hotel style suites with a private kitchen, shower room and front door give students more privacy. It seems that fridge fighting and broken bathroom locks are a thing of the past. Workrooms, gyms, cinemas and 24-hour receptions all contribute to a luxury student experience. The UK has seen an enormous increase in students, with cities like Liverpool, Manchester and Cardiff becoming hotspots for PBSA. A studio apartment Manchester can be a great investment, with its huge student population, growing economy and high student retention rates.
Smaller space doesn’t have to be a bad thing either. A more streamlined, multifunctional space can also be an attractive prospect for tenants. The recent trend for simpler living, minimalist spaces and sustainable living has added to the growing popularity of studio apartments.
Dr Mike Page, an engineer and psychologist at the University of Hertfordshire, said to the BBC,
“Compact living will not appeal to everyone, but for me, there is a beauty to be had in an efficient use of energy and space. There’s a pleasure in being able to live comfortably in a sufficient space, constructed almost entirely from sustainably sourced materials.”
The design, quality and use of space in studio apartments are all improving. The rise of technology has also helped with the move toward efficient living. People no longer need to own huge book, CD and DVD collections. Everything is now accessible on a tiny laptop or smartphone. Modern studio design features clever solutions, like multi-purpose furniture, room dividers, hidden cupboards and elevated beds. Studio apartments can also be better for the environment, with lower fuel use and additional energy efficiency measures. These measures have been proven to increase tenant appeal as well as the value of the property. Open plan living is as popular as ever, perfect for modern, busy lifestyles. Large windows, intelligent design and stunning city views make studio apartments seem far bigger than they are.