Student Housing Asset Class 2018 Update - Investment Briefings€¦ · Student Housing Asset Class 2018 Update EXPO REAL –European Residential, Student Housing & Micro Living Investment

Student Housing Asset Class

2018 Update

EXPO REAL – European Residential, Student Housing & Micro Living Investment Briefing

09 • 10 • 2018

Stefan Kolibar, Head of Marketing

2ABOUT US

• MIFID II – friendly

• Independent & unbiased data

• Secondary & primary research

• Mobile units collecting street-level data

• 20 countries, 85+ cities, 5,000+ PBSAs, 950,000+ beds

• 250+ KPIs about each city

• Datasets, interactive maps and reports

WWW.STUDENTHOUSINGASSETCLASS.COM STUDENTMARKTNG /COMPANY/STUDENTMARKETING

3STUDENT HOUSING ENGAGEMENT

Source: StudentMarketing, 2018


4INVESTORS | GERMANY (204)

VEGIS Immobilien

CORESTATE Capital Group

Campus Viva Service

RMCB

Catella Real Estate

GRAMMER Immobilien Gruppe

International Campus AG

GSA Germany

Wohnheim Karlsfelderstrasse

Uni Apart Asset Management

Kapitalpartner Campus Konstanz

mondial kapitalverwaltungsgesellschaft

SWI Schimpel & Winterhausbau

HEAG Wohnbau

Die Morten Group

Immobilienverwaltung Riebeling

Grand City Property

MPC Micro Living Services

Nagetusch Immobilien

BADER Verwaltungsgesellschaft

Apian Aparthaus Source: StudentMarketing, 2018Image: IQ Shoreditch

Prime Student Living Deutschland

Weckerle & Florian Hausverwaltung

Rübenack Nienburger Hausverwaltung

Hofmann & Berndl Haus

Stuart Management

ISARIA Wohnbau

Trefortis No. 1

Garbe College-Quartier

Dobak IMMOPartner

VETTER Wohnbau und Immobilien

Akademia Residenz-Berlin

CONREN Land AG

IWA GmbH

Josef Hofmaier

TC Bierhuys / HA de Boers

Vermietung 4U

SIGNA Urban Living

Wohnheim Güntzstraße Dresden

Kiefer Gebaudemanagement

BaseCamp Group


5SELECTED OPERATORS| EUROPE

OPERATOR NAME COUNTRY

Collegiate AC UK, Spain, Portugal

Prime Student Living UK, France, Germany, Netherlands

CRM Students UK

Homes for Students Ltd. UK

International Campus AG Germany, Austria, Netherlands, Czech Republic

UPARTMENTS Real Estate GmbH Germany, Austria

AviaFund Solution Services GmbH Germany

KAISER Generalbau GmbH Germany

AMRES s.r.o. Czech Republic

Domus Group s.r.o. Czech Republic

Source: StudentMarketing, 2018Image: IQ Shoreditch


6STUDENT HOUSING | TRANSACTION VOLUME (EUROPE, 2017)

Image: International Campus, Prague

€6.9 billion

from

€720 million

in 2007

UP

Source: RCA, 2018


7NUMBER OF INTL STUDENTS IN EUROPE (FORECAST)

Source: UNESCO Institute of Statistics, 2009-2017; IIE, 2006-2016; EC Erasmus Statistics, 2006 - 2015; Campus France 2009 – 2017; Higher Education Statistics Agency, 2009-2017; German Academic Exchange Service, 2009-2017; StudentMarketing, 2018; Image: Pure Student Living Hammersmith


0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

8BENCHMARK | STUDENT HOUSING V. OTHER ASSET CLASSES

STUDENT

HOUSING

ASSET

CLASS

INVESTMENT

VOLUME

€6.9

billion

YIELD RATES

5.75%

Spain

PROSPECTS

IN 2018 (RANK)

Source: Savills World Research, 2017; PwC, Emerging Trends in Real Estate, Europe 2018; Deloitte, 2017; RCA, 2018; Image: Collegiate, Lisbon

INVESTMENT: 5th

DEVELOPMENT: 4th

Note: SH prime net initial yield (lease), Residential (PRS); Office (Grade A)

RESI€45

billion

HOTEL€21

billion

4.40%

Spain

5.00%

Paris

INVESTMENT: 11th

DEVELOPMENT: 10th

Serviced

apartments

INVESTMENT: 12th

DEVELOPMENT: 14th

OFFICE€120

billion

3.50%

Spain

INVESTMENT: 6th

DEVELOPMENT: 7th

Shared

/serviced

offices

Europe, 2016


Europe, 2017

9

GEN

ER

ATI

ON

REN

T

STUDENT HOUSING | ASSET CLASS ON ITS OWN

Source: Real Estate Alliance (REA), 2016; 2017 Annual Report on intra- EU Labour Mobility, European Commission, 2018

INCREASED MOBILITY

ca 9.1 million working age eu-28 citizens

working / actively seeking employment in other

member state (7% up from 2016 to 2017)

30.7% of eu-28 population

rented housing in 2016

DEMAND OUTSTRIPS SUPPLY

99% occupancy levels

Shortage of private stock across Conti Europe

AVERAGE AGE

of first-time property buyers

5 years up in 10 years in IE


10

FRANCE GERMANY IRELAND ITALY

NETHERLANDS POLAND SPAIN UK

BETTER OPPORTUNITIES LIMITED OPPORTUNITIES

CZECH REPUBLIC

AUSTRIA DENMARK

HUNGARY

FINLAND

NORWAY PORTUGAL SWEDEN

Selection criteria: demand levels, growth rates, political circumstances, competition, market size.

TOP EU LOCATIONS| COUNTRIES



11DEMAND

CITY INTERNATIONAL STUDENTS

Paris 71,509

Vienna 51,782

Madrid 47,570

Berlin 33,743

Barcelona 29,735

Munich 21,826

Prague 20,887

Lyon 20,691

Dublin 18,432

Warsaw 17,993

Milan 17,891

Lisbon 16,110

Budapest 14,722

Brno 13,323

Amsterdam 13,056

Oslo 9,610

Stockholm 9,094

Cracow 7,638

Eindhoven 4,931

Helsinki 4,070

Source: StudentMarketing, 2016-2018; Numbers based on government statistics and primary and secondary research.Note: Full-time & Part-time students; Selected cities.


11

Warsaw

Lisbon

Dublin

Milan

Brno

Berlin

Madrid

Paris

Oslo

Stockholm

Helsinki

Amsterdam

Vienna

Prague

Budapest

Cracow

Barcelona

Munich

Lyon

Eindhoven

SUPPLY

Source: StudentMarketing, 2016-2018; Note: Selected cities, non-UK.


12121212

Warsaw

Lisbon

Dublin

Milan

Brno

Berlin

Madrid

Paris

Oslo

Stockholm

Helsinki

Amsterdam

Vienna

Prague

Budapest

Cracow

Barcelona

Munich

Lyon

Eindhoven

CITY PBSA BEDS

Prague 25,476

Amsterdam 25,093

Lyon 21,350

Vienna 19,861

Paris 18,757

Cracow 18,430

Munich 18,070

Budapest 18,060

Madrid 17,879

Warsaw 17,576

Berlin 17,165

Helsinki 16,478

Stockholm 15,257

Brno 13,942

Oslo 12,613

Dublin 12,343

Barcelona 9,165

Milan 8,762

Lisbon 4,600

Eindhoven 3,868

13SUPPLY / DEMAND DYNAMICS (NON-UK)

Source: StudentMarketing, 2016-2018. Note: Selected cities. No. of beds in PBSA versus total no. of students.


13131313

Warsaw

Lisbon

Dublin

Milan

Brno

Berlin

Madrid

Paris

Oslo

Stockholm

Helsinki

Amsterdam

Vienna

Prague

Budapest

Cracow

Barcelona

Munich

Lyon

Eindhoven

CITYSUPPLY VS

DEMAND

Lisbon 4%

Milan 5%

Barcelona 5%

Paris 5%

Madrid 6%

Warsaw 9%

Berlin 10%

Vienna 11%

Eindhoven 11%

Cracow 12%

Budapest 13%

Dublin 13%

Munich 14%

Lyon 15%

Oslo 16%

Stockholm 16%

Amsterdam 21%

Prague 26%

Brno 27%

Helsinki 28%

14PRIVATE SUPPLY / INTL DEMAND (NON-UK)

Source: StudentMarketing, 2016-2018. Note: Selected cities. No. of beds in private PBSA versus no. of international students.


14141414

Warsaw

Lisbon

Dublin

Milan

Brno

Berlin

Madrid

Paris

Oslo

Stockholm

Helsinki

Amsterdam

Vienna

Prague

Budapest

Cracow

Barcelona

Munich

Lyon

Eindhoven

CITYSUPPLY VS

DEMAND

Milan 1%

Warsaw 1%

Brno 3%

Prague 5%

Paris 5%

Vienna 7%

Cracow 8%

Berlin 9%

Madrid 12%

Lisbon 12%

Helsinki 12%

Budapest 13%

Oslo 16%

Barcelona 16%

Eindhoven 18%

Stockholm 22%

Munich 27%

Dublin 30%

Amsterdam 55%

Lyon 57%

15DEVELOPMENT PIPELINE| GERMANY

City No. of PBSA beds

Berlin 2,377

Hamburg 2,188

Stuttgart 1,020

Bremen 740

Dresden 595

Bonn 340

Aachen 324

Gottingen 264

Marburg 168

Karlsruhe 100

Mainz 50

Source: StudentMarketing, July 2018; Note: number of beds under construction; Image: i Live Holding GmbH, Germany


16

Q: What were the most important reasons why you opted for accommodation in the student

residence you currently live in?

WHAT STUDENTS WANT | SELECTED EU CITY

1.0%

0.5%

0.5%

0.5%

1.0%

2.0%

3.0%

5.5%

14.5%

19.5%

21.5%

30.5%

Other

Facilities in the nearby area

Services provided by the residence

It was the only one with available rooms

Safety

Multicultural character of the student community

Flexibility of the lease contract/time period

Room equipment

Recommendation from school

Distance to the city centre

Distance to the school

Facilities in the residence

Source: StudentMarketing; Image: Chapter, London

n = 200 students living in private PBSA establishments


17DEMAND | AMENITIES

Source: StudentMarketing, 2018Image: Redvers Tower, Sheffield

ClubCafeteria

Bike storageCar parkingGames roomGymCommunal kitchen/s

Laundry roomLibraryMultifunctional roomOutdoor area

RestaurantStudy roomTerraceTV room


18

20 countries

85+ cities

5,000+ PBSAs

950,000+ beds

13% average SH provision

http://bit.ly/EU_PBSA_Map

OVER 200 KPIs TO JUSTIFY INVESTMENT





19SAFE INVESTMENT IN STUDENT HOUSING

Picture: The Student Hotel

Demand

PBSA supply

PBSA pipeline

PBSA prices

Trend data (growth)

SH companies

Customer preferences



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Student Housing Asset Class 2018 Update - Investment Briefings€¦ · Student Housing Asset Class 2018 Update EXPO REAL –European Residential, Student Housing & Micro Living Investment