
July 2021 51
profit-driven private companies. These
companies have discovered a hihly profitable,
sometimes extortionate, business model:
luxury purpose-built student accommodation.
What little accommodation is bein built is
larely luxury accommodation out of the price
rane of the averae family.
Aparto is a private company with five student
residences across Dublin city. Prices
start at € per week for a shared room
in its Dorset Point property, located a
-minute walk from TU Dublin’s
Graneorman campus. The most
expensive option is the Platinum Ensuite
in Beckett House priced at € per
week, meanin two semesters here will
cost a shockin €, in total.
Many of Aparto’s properties boast
amenities such as ames rooms, yms,
and ‘stylish’ cinema rooms, which is
exactly what every
student workin a
minimum-wae, part-
time job is lookin for.
Some even have ‘house
pets’. The question that
needs to be asked is,
with so many students
strulin to find
reasonably priced
accommodation, why
has there been a sure
in hih - pr iced
accommodation with
such unnecessary luxuries?
The answer, it seems, is international
students.
Accordin to the HEA, in , % of all
students in Ireland were international students.
However, a report conducted by EY found that
international students represented % of the
total students livin in PBSA. Privately-owned
PBSA is profit-driven and was never marketed
to Irish students, but instead to wealthy
overseas students, says Sirr. Developers can
et away with charin international students
three times the price they would Irish students.
With so much uncertainty surroundin
international students in Ireland post-Covid,
the student accommodation market is
extremely volatile. With fewer international
students expected to come to Ireland to study
(a sector previously worth around € million
to the Irish economy per year), Sirr expects that
many privately-owned PBSA will be turned into
co-livin developments or tourist
accommodation.
Which, in circumstances where over-priced
supply seems to break standard economic
rules about all supply helpin reduce price, will
do absolutely nothin to remedy the intractable
housin crisis.
ambitious” due to the fall in construction
activity durin the pandemic. Accordin to the
report, around , units were built in ,
and this is expected to fall to , in the
comin year.
However, accordin to Dr Lorcan Sirr, a
housin lecturer at TU Dublin, supplyin more
PBSA is not the answer.
“Some [PBSA] were lookin for chane of use
even before the pandemic, which suests to
me that the market is oversupplied”, he says.
The notion that supplyin more PBSA is the
best way to take students out of the private
rental sector simply isn’t accurate.
“Traditionally, Irish students don’t stay in
student accommodation. Many attend collee
close to home and commute, and if they don’t,
they typically stay in suburbia, alon bus
routes, mainly because it’s cheaper”, says Sirr.
The key issue is that a lot of the
accommodation is bein supplied by
D
espite expectations due to the
pandemic, the cost of student
accommodation in Dublin has
remained steady – and costly. Two
semesters in the cheapest campus
accommodation in UCD will set you back just
over €,, with the most expensive comin
in at almost €,, per annum.
Sky-hih costs can have the eect of pushin
students towards private landlords, creatin
more demand in a market that is already at
capacity. Private rentals also brin with them
their own issues. With the averae cost of a
room in a shared property costin around €
per month, accordin to a Student Housin
Report done in , rent is not much more
aordable in private properties. There is also
the fact that most private landlords will only
accept a -month lease, meanin students
can be stuck payin for accommodation in the
summer months when collee is finished.
In the current market, landlords can et away
with just about anythin. I once viewed a room
that was completely taken up by the bed and
had no floor space at all. There have been
accounts of rooms with just one bed sleepin
two to three people.
In , the Government launched the
National Student Accommodation Stratey – a
scheme aimin to provide more purpose-built
student accommodation (PBSA) in a bid to free
up private rental properties that would
otherwise be occupied by students.
The Hiher Education Authority (HEA)
estimates that , bed spaces will be
required by to satisfy demand for student
accommodation. It estimates that around
, will be completed by this time. However,
a report by Mitchell McDermott, a construction
consultancy roup, believes this “appears
Developers
can get
away with
charging
international students three
times the price they would
Irish students.
Supply Supply Supply
(?)
Where is the demand
for luxury student
apartments?
By Niamh Alexander
The alternative (for international students)
POLITICS
Handy bedroom/kitchen combo!