Estimated Read Time: 5 minutes
Editor: Mark Callacher
The Beginning Of The End For Purpose Built Student Accommodation?
I am based in Liverpool, a city that has seen a massive influx of investment that is geared towards foreign students who are currently adding more than £10.7 billion to the economy. It has produced a booming construction industry around the city, as well as other industries that benefit from high spending wealthy students (That’s correct, ‘wealthy’ and ‘student’ in the same sentence!).
So I was surprised to hear the announcement this week by the home secretary that the number of foreign student visas & therefore entry into our country could be cut by half (see link for article by The Guardian: http://bit.ly/2horeP3)
Many of the purpose built student accommodation that is being built in the U.K., could not have been achieved without foreign investment. Many of these investors have placed their money into these cities on the basis of an increasing demand for quality student accommodation.
University education is one of this country’s best ‘exports’, it will be interesting to see the economic results if we choose to place more restrictions on foreign visas.
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