Article written by Eleonora Guardini, Sales & Marketing Director of Resa
Every year, after the university entrance exam (EVAU), thousands of students in Spain have to start looking for what will be their new home for at least the next four years. Many will have to leave home and start looking for accommodation, essentially with two options: a rented flat or a hall of residence.
Looking for a rental flat has become an arduous task for students and parents, given the current real estate market situation, where rental prices have been rising steadily.
In Madrid, one of the cities with the highest number of students per year, rent has increased by 9.2% compared to June 2022, according to idealista data. This means that students have less access to a rental flat, having to resort to sharing a flat with other students or asking for help from their parents, as paying two months' deposit in advance or commission to an agency is clearly out of reach.
Moreover, another factor is that the supply from landlords is currently insufficient to meet the level of demand. This situation often leads to excessive prices for flats with poor characteristics and conditions.
Consequently, for those moving away from home, the alternative of choosing a hall of residence is becoming more popular. This is reflected in data from DBK's Sector Observatory, which shows that in 2022 the number of places offered increased by 9%, with a turnover of €700 million, 14% more than the previous year. This is mainly due to the services offered and parents' peace of mind, knowing that their children will have full support during a new and fundamental stage as they develop as young people.
In addition to parents' emotional peace of mind, other factors come into play, such as location, since the vast majority of our halls of residence - in addition to establishing agreements with more than 40 universities - are close to the campuses, thus allowing students to enjoy and soak up the university atmosphere throughout their stay.
This means that within a radius close to the study centres, the traditional university atmosphere, both characteristic and necessary, is fostered, as could be the case in Salamanca or Granada, to cite just a few examples. An environment that encourages a sense of community and belonging, in which students feel supported by other students in the same situation, and which will undoubtedly be the best years of their lives, years in which they will grow personally and professionally. In this sense, the halls of residence also have a great responsibility, as they will be the first point of contact in the new city and entrusted with breaking the ice and generating connections with the new residents, something we are very good at doing.
But let's not forget something we believe is paramount during this process: well-being. In our case, thanks to our 30 years of experience and the exhaustive analysis we carry out on our network's student profile, we have been able to develop different comprehensive programmes that ensure the physical and mental well-being of our residents, who deserve to feel accompanied, just as they are at home. In the same sense, other services, such as cleaning and security 24 hours a day, seven days a week are equally important.
To conclude, considering the real estate market chaos, it is essential to highlight the pros and cons of starting a new life in safe accommodation, which guarantees well-being and promotes social connection, essential for these formative years.
Our young people are embarking on their most beautiful, memorable adventure. They must do so in a safe environment with the best services on the market, in spaces that allow them to enjoy themselves, while, naturally, maintaining the right academic balance.