Cardiff is a city I know well having attended University there more than a decade ago. On a recent visit to the city, it was obvious from the numerous new student developments close to campus that demand for this type of property has increased dramatically in those ten years.
Recent research backs up this assumption with this article in walesonline highlighting that 14,500 new student accommodation rooms are needed in Cardiff before supply reaches saturation point. That’s a huge amount of building work and development and this should alert investors to the potential of the Welsh capital.
The shortfall in student accommodation in Cardiff hasn’t gone unnoticed among student property developers as you might expect. Building projects are currently in the pipeline providing 900 additional student rooms, however this will hardly make a dent in current demand.
Cardiff is home to 78,000 students in any one academic year and a significant proportion (14,700) are international students.
One of the more striking statistics is the potential shortfall in rooms for first year students. Cardiff will be welcoming another 26,000 in the next student year and current completed stock (as of June 2016) stands at just 11,000.
A small number of student rooms will soon be released for investment at Cardiff Student Village, a new development which will consist of 249 studio apartments with en-suite facilities.
The first phase of this new development is already almost sold out with just 3 units remaining. Click here If you which to secure your investment in this development.
By Brett Tudor