Gone are the days when students would merely seek out a roof over their heads when deciding where to settle at a student accommodation during their studies. Today, students are looking for living space with shared facilities, flexibility, and comfort, new findings from the Class of 2020 think-tank reveals.
Known as ‘Branded Living’, it would appear to be the future for student accommodation and offers much more than just a bed to sleep in. Students can now enjoy the use of shared facilities such as communal areas, bars and restaurants, gyms and outdoor or rooftop spaces.
On top of the obvious perks, ‘branded living’ is also a socially beneficial experience, as it creates opportunities for students to share ideas, study and retreat, in turn reducing loneliness and developing a sense of community.
“Branded living incorporates the growing desire of a younger generation wishing to maintain an urban lifestyle with co-living platforms that offer an attractive alternative to otherwise outdated housing options” says Ryan Manton, Programme Director of the Class of 2020.
In fact, within the hotel sector in the Netherlands, revenues from additional services regularly account for up to 50% of total revenues, according to ‘Savills, spotlight research’. We are now seeing this in the market for micro-homes aimed at students and Young Professionals too, with investors showing an increasing interest in the market for micro-housing and the branded living concept.
This is also a global phenomenon, with over 400 brands now known to offer ‘branded living’ in the housing sector. This not only creates opportunities for students to live in shared, flexible, and comfortable facilities, but these investments also help to fund and develop much-needed housing options for both students and young professionals in cities with housing shortages.
The introduction of the evolution of student accommodation is transforming urban living for students and young professionals during studies and beyond. The future of urbanised living is exciting, and something that requires continued focus and research.