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Money Flocks to Campus: Student Housing Reaches Record Transactions in 2022

January 18, 2023

Rise and shine! It's a new day and The Shaker is here to serve you the best mix of residential real estate news. Yummy yummy.

STUDENT HOUSING

Money Flocks to Campus: Student Housing Reaches Record Transactions in 2022

What you should know:

Student housing has set an all-time high in transaction volume for 2022 with an annualized total of $18.9 billion, significantly surpassing the previous year-end high of $11.5 billion in 2021.

  • Cross-border capital has in recent years played a much larger role in the success of the asset class.

  • From 2017 to 2021, it held 20%, deploying almost $10 billion to student housing assets.

  • With this broadened capital targeting the sector, the sale price per unit has steadily increased nationally.

COLIVING

Co-Living Companies Common and Habyt Merge to Form Habyt Group

  • Two co-living companies, New York-based Common and Berlin-based Habyt, are merging to form Habyt Group, according to the Wall Street Journal.

  • The new company's initial portfolio will consist of thousands of units, with Common managing 4,000 units in the US and Habyt operating 7,000 units in Europe and Asia.

  • The newly formed company expects to keep costs down by joining together and combining resources, with Habyt co-founder Luca Bovone taking on the role of CEO.

RENTALS

Strict HOA Rules and Vacation Rentals Driving Up Rents in Florida

  • A study by economist Ken Johnson of Florida Atlantic University suggests that too many vacation rentals and strict homeowners association regulations are pushing up housing costs in Florida, potentially stifling the state's economic growth.

  • According to the study, renters in some areas of the state are paying as much as 18% more than the fair market value for their apartments.

  • The study argues that the combination of strict HOA rules and the sheer number of vacation rentals is negatively affecting housing affordability by removing units that could be rented to the public, causing rental rates to rise.

RENTALS

Flow raises $4.5m to automate property advertising on social media

  • South African start-up Flow has raised $4.5m in pre-series A funding to expand its proptech marketing platform, which connects to the websites of estate agencies and property developers and automates advertising on social media channels including Instagram and Facebook.

  • The platform intends to use the funding to expand to other social media platforms such as TikTok and LinkedIn, as well as other advertising channels like digital out-of-home billboards.

  • The company aims to integrate its platform into existing international property portals and CRM platforms and drive the business's B2B growth strategy.

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