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Porto has more than a dozen new university residences under development
16 January 2020
Porto has more than a dozen new university residences under development
Idealista

In the market for university residences in Portugal, Porto stands out for its strong dynamism, with 10 to 14 projects for new accommodation units for students under development. Some of these also include the concept of coliving, the majority of which are located next to the Campus da Asprela and in the city center.

The survey is carried out by the main international consultants - CBRE, Cushman & Wakefield, Predibisa, Savills and JLL -, who represent the investors and promoters who are developing the projects at hand.

Andreia Almeida, Associate and Research Director at Cushman & Wakefield, points out that "the private offer is responsible for 43% of beds, a weight that will increase over the next three years, as 5,400 new beds are expected to be distributed by 14 projects”.

Cristina Arouca, Research Director, at CBRE Portugal, is aware of "more than 10 projects under development or still under study which total more than 5,000 beds", considering that "there is a market to accommodate this offer, even if we only consider the demand by foreign students”.

According to the data obtained by this consultant, the new offer appears to be, in fact, insufficient for demand, taking into account that a need for around 30 thousand beds has been identified at Invicta.

"In the academic year 2019, a total of 34,200 mobility students were studying in Porto”, points out Cristina Arouca.

There is "potential for 8,628 beds in student residences and there are currently only 1,100 beds in operation distributed by five private residences", says Maria Empis, Head of Research, at JLL.

In this sense, he adds, "there is still capacity for more projects and beds in Porto, in the private segment, in addition to the current pipeline that has 5,907 beds in 13 projects".

João Leite Castro, Partner and Director of Predibisa, considers that, taking into account the values ​​of supply and demand in question, "there is room for new projects, namely in the western part of the city”.

According to Filipe Santos, Associate Director in Porto, "the short-term pipeline is between 2,500 to 3,500 beds, we have no doubt that there is room for new projects and new players”.

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