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oai:www.repository.cam.ac.uk:1810/2781052021-04-21T18:18:19Zcom_1810_221790com_1810_256063col_1810_221791

European Student Housing: Sector Capitalization, Drivers and Investment Characteristics 10.17863/CAM.25444 Davies, Frederick Fuerst, Franz This dissertation sought to investigate the student housing sector in Europe, focusing on the investment characteristics, drivers and performance of this asset class. Over the last decade the sector has grown substantially, but there has been little done to track the sector. This research, through access to transactional data from 2007 to 2017, created a hedonic index for both the UK and Europe which was used to compare to other real estate sectors. Results indicate that student housing acts as a diversifier owing to its non-traditional drivers. The sector had representation only in the UK-based mixed asset portfolios while the European sector’s higher volatility prevented its inclusion. Interviews highlighted the differences between the two regions with the higher education industry, supply and demand dynamics and the regulation of the student housing sector all important for explaining why the UK market has grown substantially more than Europe. This research confirms the strength of student housing not only as an alternative investment, but also as an asset class in its own right. University of Cambridge 2018-10-31 Thesis Masters Master of Philosophy (MPhil) en https://www.repository.cam.ac.uk/handle/1810/278105 https://apollo8-f-pro.lib.cam.ac.uk/bitstreams/3a46c6a2-6635-4d2c-997f-c40d20fc87be/download 64c67c49b2ec19f4037aac2246072099 https://apollo8-f-pro.lib.cam.ac.uk/bitstreams/fe39122a-55d4-4caa-8be6-12d0ccd4f539/download 87eda9de84448d1f82354d60eee3eb5f https://www.rioxx.net/licenses/all-rights-reserved/ Key words: alternatives student housing hedonic index mixed-asset portfolio