India Student Accommodation Market Size (2024 - 2029)

India Student Accommodation Market Analysis

India's student accommodation market has generated revenue of USD 30.1 million in the current year and is poised to register a CAGR of 7.2% for the forecast period.

In the aftermath of the COVID-19 pandemic, there were a number of positive developments in the market, such as the lifting of restrictions on flights and travel, the removal of quarantine measures, restaurant re-opening, the introduction of indoor and outdoor activities, and the re-establishment of the overall halt, resulting in a post-COVID-19 boom. Student housing rentals have seen a steady increase in the post-pandemic period, with an annual growth rate of 10-15%. This confirms the increasing demand for student housing. Furthermore, the number of students enrolled in higher education is expected to rise to 92 million in 2036, providing investors and developers with an opportunity to capitalize on the sector's untapped potential and immense growth potential. It is expected that new players and potential international investors will enter the market.

The Indian education sector has experienced rapid growth in recent years, increasing student numbers and policy shifts. As a result, the need for an adequate amount of high-quality accommodation is on the rise. The changing microeconomic landscape, the ongoing transformation of the Indian educational sector, and a demand-driven, accommodation-centric gap between supply and demand have caused investors to shift their focus away from traditional real estate assets and towards alternative asset classes. Student housing in India is one such asset class. The concept of independent student accommodation is still relatively new in India; however, its advantages in terms of cost, convenience, in-room amenities, and nearness to educational institutions have led to its emergence as a distinct sub-category in the Indian property market. Furthermore, professionally managed student accommodation not only provides a sense of security and safety but also encourages social interaction among students.

India has been witnessing a steady rise in the number of international and domestic students, which has led to an increase in the demand for residential student accommodation. Cities with well-known universities have been particularly receptive to this trend. The student accommodation options available in the region range from traditional dormitory accommodation, purpose-built Student Housing (PBSA), and private apartments to homestays and more. PBSA is becoming increasingly popular due to its convenient amenities and services designed specifically for students.

India Student Accommodation Industry Segmentation

Student accommodation is a type of residence students use in the university environment. It is the place where students consume meals, study, and complete all-night sessions to prepare for their examinations, and it is also the place where they will remain after completing their studies.

India's student accommodation market is segmented by service type (Wi-Fi, laundry, utilities, dishwashers, parking) and by type (PG, PBSA, studio apartment, living in on-campus housing, living in off-campus housing).

The report offers market sizes and forecasts for the Indian student accommodation market in USD for all the above segments.