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Nigeria: Nigeria accounts for around one million of Africa’s estimated 1.5 million student housing bed shortage, according to a new report examining purpose-built student accommodation (PBSA) across the continent.
The Africa Student Housing Report, produced by Fortren and Company, analysed student housing markets in Nigeria, South Africa, Kenya and Ghana. It revealed that the PBSA market across Africa is grossly undersupplied, with approximately 250,000 beds in a student population of about 25 million people.
Nigeria was found to be the most under-supplied market among the countries studied as well as having the highest development pipeline. The report revealed that less than nine per cent of Nigerian tertiary students live in university accommodation, while others live in private housing off campus.
South Africa currently provides 91.8 per cent of the formal PBSA supply across the continent, with government-led student housing programmes and developed capital markets.
In Kenya, Acorn Holdings has expanded its student accommodation portfolio to approximately 20,000 beds under management.
Martin Uche, chief executive officer and research director at Fortren and Company, said: “Across Nigeria, Ghana, Kenya and South Africa, tertiary enrolment is expanding at pace, while institutional student housing supply remains critically insufficient.”
The report calls for a coordinated effort between governments, universities, investors and private operators to fill the gap of student housing in the continent.
Highlights:
• The Africa Student Housing Report found Nigeria accounts for around one million of Africa’s estimated 1.5 million student housing bed shortage
• Fortren and Company reported that Africa’s purpose-built student accommodation sector provides approximately 250,000 formal beds for a student population of around 25 million
• Nigeria recorded the largest student housing deficit among the markets studied and also has the most active development pipeline
• South Africa currently supplies 91.8 percent of Africa’s formal purpose-built student accommodation market, supported by established funding and student housing programmes
• Acorn Holdings has expanded its Kenyan student accommodation portfolio to approximately 20,000 beds under management, according to the report
