One of the specific niches the real estate market in Africa has seen is the purpose built student accommodation (PBSA) sector. According to the UNESCO Institute, there was a 21% increase between 2012 and 2017 in the number of students that were enrolled in tertiary institutions. This growth creates the need for accommodation for these students. On the supply side, there has been an increased investor interest in this sector, especially because of the type of population driving demand and its positive economic prospects. 

This sector of the market largely thrives on demand from University or college students. As more individuals continue to enroll in tertiary institutions, residential demand in the surrounding environments also experience a rise specifically from the younger population.

Unlike the traditional residential sector, this demand is usually seasonal, in accordance with whenever the schools are on session or holidays.

Nigeria is no different as areas such as Yaba, Lagos are known to have the highest number of tertiary institutions, and therefore several student housing projects can be found there. 

Estate intel is currently tracking 17 Purpose built student accommodations in Lagos, with more than 200 rooms. Most of these are located in the Yaba area, due to the high number of tertiary institutions located there. 

You can get access to this information and more in our new purpose built student accommodation dashboard by subscribing to Estate Intel’s platform. This dashboard allows you to access market information such as: total number of student housing, number of rooms, locations, average rent per annum, as well as track your hotel’s performance with the general market rates.

What are your thoughts on the Lagos student housing market dashboards, let us know by sending an email to [email protected].