The Loom, one of the latest purposed-built student accommodations on Cork Street. Photo by Dieu-Hang Tran
Students Priced Out of Purpose Built Accommodation The Social Housing Strategy in 2015 was aimed to address the housing pressure via student accommodations, however, it does not benefit student and neither benefits the residents of the area.
by Tran Dieu-Hang
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report by Higher Education Authority (HEA) shows a constant lack of supply for student accommodations. By 2024, 25 182 bed units will be needed to meet the demand of 68 679 students. The report suggests the private rental sector should be more flexible with the rent-a-room scheme and more student accommodation should be built. In 2017, National Student Accommodation Strategy was in progress. The strategy immediately attracted developers to invest in purposed-built student accommodations (also known as PBSA). In county Dublin, the main area for this plan was Dublin North and Dublin South-West. The boom time for PBSA was between 2014 - 2020 when almost €950 million worth of asset was made for student accommodation, according to a Linsey’s report. “The original idea for student accommodations was that the more you provided then the market starts to find the balance, and the price will reduce where there’s more supply,” said Stephen Coyne, programme manager of Dublin South-West’s economic development, “but it hasn’t happened yet,” he added.
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However, the price for PBSA is out-of-read for most student. According to TU Dublin’s cost of living guide, an average budget for rent in Dublin is €585 per month per student. This budget should be doubled if a student wants to live in purposed built student accommodations. On Apartostudent.com, a standard bedroom starts from €260 per week, it means €1040 per month. Similarly, Heyday Student Living offers an en-suite bedroom from €268 per week. “The name doesn’t go with the program, it doesn’t help student,” said Hiya Saikia, a thirdyear student at Griffith College, “if you stay outside of student accommodation in a shared house or a shared apartment, then you pay less than what you pay in student accommodation” In the second half of 2020, there were a number of operators got permissions to convert student accommodations into short-term lets due to ‘lack of demand’ in the pandemic and also the difficulties in the tourist industry. Dublin Inquirer reported about 1000 bed units have been converted into short-term lets until 31/05/2022.
