Market Size of India Student Accommodation Industry
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Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 7.20 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
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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.
By Service Type | |
Wi-Fi | |
Laundry | |
Utilities | |
Dishwasher | |
Parking |
By Type | |
PG | |
PBSA | |
Studio Apartment | |
Live in On-Campus Housing | |
Live in Off-Campus Housing |
India Student Accommodation Market Size Summary
India's student accommodation market is experiencing significant growth, fueled by an increase in student numbers and changes in educational policies. The market has seen positive developments following the COVID-19 pandemic, including a steady increase in student housing rentals. The anticipated rise in students enrolled in higher education by 2036 presents an opportunity for investors and developers to capitalize on the sector's untapped potential. New players and potential international investors are expected to enter the market, shifting their focus from traditional real estate assets to student housing, an emerging asset class in the Indian property market. The demand for student accommodation has surged due to an increase in both international and domestic students. The variety of student accommodation options available, including traditional dormitory accommodation, purpose-built Student Housing (PBSA), private apartments, and homestays, caters to this demand. The "Study in India" campaign launched by the government is expected to further boost the market by attracting a large number of students to India. The industry has attracted considerable investment from institutional investors and property developers due to the prospect of steady rental income and high occupancy rates. Major players in the market include OYO Life, NestAway, Zolo Stays, Stanza Living, and CoHo.
Explore MoreIndia Student Accommodation Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growth of Education Sector
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1.2.2 Rising Demand for Quality Accomodation
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1.3 Market Restraints
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1.3.1 Enrolment Fluctuations
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitutes
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1.4.5 Intensity of Competitive Rivalry
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1.5 Insights on Current Trends and Innovations in the Market
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Service Type
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2.1.1 Wi-Fi
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2.1.2 Laundry
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2.1.3 Utilities
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2.1.4 Dishwasher
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2.1.5 Parking
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2.2 By Type
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2.2.1 PG
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2.2.2 PBSA
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2.2.3 Studio Apartment
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2.2.4 Live in On-Campus Housing
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2.2.5 Live in Off-Campus Housing
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India Student Accommodation Market Size FAQs
What is the current India Student Accommodation Market size?
The India Student Accommodation Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in India Student Accommodation Market?
OYO Life, NestAway, Zolo Stays, Stanza Living and CoHo are the major companies operating in the India Student Accommodation Market.