Developers and designers are beginning to focus on creating micro-housing units that provide housing options near universities at a reasonable price. Micro housing provides students with miniature spaces set up for sleeping, study and preparing simple meals. With the rise in the student enrollment and worker population, micro unit houses give students’ and workers’ access to affordable accommodation. Many cities and countries are experimenting with micro-housing to meet the growing demand for affordable student and worker accommodation. For example, University Student Living of The Michaels Organization is currently developing micro units near Boston University between 325 and 400 square feet each offering a private kitchen and bathroom.
THE BUSINESS RESEARCH COMPANY EXPECTS THE STUDENTS AND WORKERS NON-RESIDENTIAL ACCOMMODATION MARKET TO GROW TO $26 BILLION BY 2021
Asia Pacific was the largest region in the students and workers’ non-residential accommodation market in 2017, accounting for two-fifth of the market share.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, companies are beginning to look for ways to provide sustainable housing to reduce their environmental footprint. Energy and water efficiency are the top priorities of accommodation owners due to their cost saving benefits, as most student accommodation provides energy and water to residents as part of the fixed rentals. Other measures, such as maximizing the benefits of orientation and maximizing indoor air quality, are being used to create healthy buildings. For example, Campus Living Villages, a global developer and operator of on-campus student accommodation, delivered sustainable projects that included collecting over 31,000kw of solar energy and 787,000 liters of rainwater at the University of Melbourne student village in the first four months of 2016 alone.
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Centurion Corporation Limited was the largest company in the students and workers’ accommodation market in 2017, with revenues of $8.7 billion for the financial year 2016. Centurion Corporation Limited’s growth strategy is focused on developing customized accommodation management services, enhance and manage its assets and identify strategic acquisitions and joint ventures. The company’s latest projects which include Westlite Tampoi in Malaysia, Westlite Woodlands in Singapore and a supplemental agreement with Penang Development Corporation to finalize plans for its workers’ accommodation in Penang are part of its expansion strategy.
The students’ and workers’ accommodation market comprises businesses that provide long term accommodation for residents in these categories. It includes housing provided by organizations for long-term housing of their employees. The accommodation may serve as a principal residence for the residents for the period of occupancy.
Students And Workers Non-residential Accommodation Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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