European PBSA: Investing in the future

City analysis of demand and investment drivers reveals the grade A growth opportunities

June 04, 2024
  • Dominika Mocova
  • Emma Rosser
  • Nick Whitten
  • Julia Martin
  • Mason Gillard-Ellis

Europe’s purpose-built student accommodation (PBSA) sector has attracted investors' attention in recent years thanks to a rapid increase in demand from students across the globe. Over the past decade, the number of students in the EU and the UK has grown by 15% reaching an estimated 21.7 million in 2022/23. It is projected to grow by further 10% by 2030/31. This means an additional 2m students in need of housing solutions compared to 2022/23.

Investment in European PBSA has surged from €0.5 billion in 2008 to over €13.1 billion in 2022, reflecting CAGR of 27%, primarily targeting UK cities. Despite this growth, PBSA unmet demand across 40 key European cities amounts to 1.2 million beds. This is expected to increase by a further 8% by the end of this decade.

London, Paris and Barcelona emerge as top investment growth hotspots. The appeal of these markets reflects a mix of favourable historic and projected PBSA dynamics. These include robust demand, PBSA supply, liquidity, market maturity, rental growth, affordability and ESG compliance.

Fill out this form to download report

There was an error submitting the form. Please try again. 



Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.