The evolving landscape of student housing in Italy

 

Historically, Italy has not paid great attention to student housing, at least as far as public-sponsored initiatives are concerned. Buildings were therefore built by HEIs themselves, and by religious organisations. A relevant share was and still is, detained by private landlords, who rent private flats where kids usually live in groups of 4 or 4.

In the last few years, though, as also reported by JJL, the market is evolving.

“Student housing continued to be an attractive sector in EMEA in 2019: €8.5 bn of investments were recorded (+63% than 2018), €5.9 of which were located in the UK which took the lion’s share in line with historical trends. The UK was followed in terms of volumes by France (€1.2 bn), Germany (0.55 €bn) and Sweden (0.4 €bn).

In Italy, student housing is still representing an emerging market and transactions involving students’ accommodations were limited in 2019. Nevertheless, the interest in the sector was high and it is contributing to the creation of new structures. Both domestic and international operators are operating in the market such as Collegiate, Campus X, The Student Hotel, Hines and Nuveen”.

Students’ accommodations in Italy can be divided into 4 different categories:

• regional residences under the DSU (Diritto allo Studio Universitario – Right to University Study)
• private and public student housing that is legally recognised recognised
• beds managed directly by universities
• beds managed by private operators

Contrarily to other States, such as for example the UK, not all Italian students choose to study in a university outside their hometown. Quite the contrary: if given the opportunity, most Italian students prefer to study where their families live.

That said, some pupils opt for an outside-of-town destination if the HEI of destination is perceived of better quality, and/or if they are granted a scholarship. Increasingly, international students head to Italy, expecting the host institution to directly, or indirectly, provide for housing facility.

The Draghi government recognised this void and provided for fresh funds in the Recovery Plan (“PNRR”) released in May 2021. In the meantime, the Government already invested in Ravenna (University of Bologna) some 3,7 million euro.

Contrary to what happened in the past, though, it’s private investors that choose the Italian student residential market. As JJL reports, the main operators seem to invest in the cities that host the higher number of HEIs, and of students themselves:

• The Student Hotel: more than 2,500 beds – 5 expected new openings
• Camplus: more than 1,000 beds expected in Rome, Torino, Bologna
• Campus X: more than 500 beds – 3 expected new opening
• Collegiate: more than 1,100 beds in Milan
• Stonehill: more than 1,200 beds in Bologna and Padova

Some of these are international, some, as Camplus, are Italian.

Camplus has so far already invested in Venice, as well as elsewhere, from Florence to Palermo, to Pavia.

It thus looks like project financing is the new way to build university residences in Italy.

Other investors are local communities, such as the “consorzi universitari“, that often raise public and regional funds, and the universities themselves.

Remarkably, the Provinces of Trento, Bozen, and the Land of Sudtirol fully financed a dormitory c/o the University of Camerino, in the aftermath of the 2017 earthquake. The dormitory will host up to 456 students.