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Student accommodations, a niche in expansion

21 October, Milano Finanza

That of student accommodations is a market niche expanding in Italy. Steadily growing even during the recession, thanks to a demand that has always been high, this sector concerns over 480 thousand people that every year are looking for an accommodation in the various Italian cities. A respectable business, according to Immobiliare.it, people spend 4% compared to last year for an average of 416 euro per month for a single room. “We’ve reported a steady growth of the demand in the past few years for what concerns rooms and beds to rent”, notes Carlo Giordano, Cep of Immobiliare.it. “Once home sharing was reserved for students, now it has become popular also among workers, not only as a way to save money but as a young and trendy lifestyle. This has led to an increase in rental prices, to which the introduction of the regulated contract and of the flat coupon have contributed, reducing in this way the off-the-books economy”. Prices of rents are adjusting faster than those of the residential market, causing the spending of families to increase, as the returns of those who bought a second house to rent to university students also increase.

According to the research of Immobiliare.it, rents are rising in the main 14 Italian cities for the third consecutive year, with prices increased by 9%. Milan has the record with 528 euro per month on average for a single room, +4% compared to last year. Places in shared rooms have registered the biggest increase: the average price is 388 euro, 12% more than 2016. Prices of single rooms have maintained substantially unchanged in Rome, where they average 439 euro. Living in the old town or in areas close to university faculties makes the price rise, reaching 500 euro for single rooms. The highest increases, and hence the highest returns, have been reported in Florence where a single room costs 401 euro (+13% compared to 2016). Bologna is fourth in the chart, with increases of about 8.5%, costing to students approximately 355 euro for a shared room. In a student town like Siena, rents increased by 2% (336 for a single room, 245 for a shared room), while Venice registers 6-10% (respectively 333 and 252 euro).

Source: Milano Finanza

Translator: Cristina Ambrosi

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