![]() ![]() Mr Levesque says UTILE’s plans “are less expensive than building social housing, for example – while still having a big impact on the rental market to bring it back to a point of balance for the benefit of everyone.” AI start-ups make it easier and fasterĪ time-consuming endeavour for international students is hunting for accommodation in the cities where their college or university is located. We build and operate the projects and charge students between 10% and 30% below market rates.” “What we’re developing is an alternative model of non-profit student housing that’s independent of colleges and universities that is able to deliver thousands of units of affordable housing at a better price point. Laurent Levesque, director general of UTILE, told University World News: Underlying their model are several different sources of funding – municipal governments, student societies, and especially private investors, who account for 75-80% of UTILE’s total funding. In Canada, Quebec-based company UTILE, which calls itself “the only social economy organisation that specialises in student housing across Quebec,” is building thousands of new housing units for students. Private sector working on affordable housing Globally, the student housing market is seeing rent growth of more than 9%, reports Multi-Housing News. “Across the European cities Savills monitors, approximately 14,500 PBSA new beds were delivered in 2022 – yet this was still not enough to meet the increase in student numbers…On average across Europe, the public student housing market represents 63% of total PBSA beds, meaning the vast majority of existing stock is outdated and of relatively poor quality compared to private stock.” Major property agent Savills reported in 2022 that: In Europe, the demand-supply imbalance is just often just as acute. National broadcaster CBC News interviewed students about their inability to find suitable finding, shown in this video. They are the ones who have to double and sometimes triple up. They are among the ones having to suffer because of the problem. They are not the ones causing the problem. “International students are the biggest victims of our inability to plan. In June 2023, University World News interviewed Mike Moffatt, a professor at the Ivey Business School, University of Western Ontario, who added: “At the heart of the issue of the growth of international enrolment is chronic and historical underfunding by the provincial government.” Underfunded colleges have needed to enrol more and more international students to generate enough revenue to survive – and have done so regardless of whether there is sufficient housing for these students. She pointed to the provincial government’s underfunding of the college sector in Ontario as a main reason underlying the problem. So what’s happened, naturally, as they need to live somewhere, is that it put stress on a number of markets, which has caused rents to rise, because there has been no offsetting increase in the size of the rental stock.” “We’ve had a substantial increase in international students, mostly at the community college level, though also at the university level, and we’ve built very little housing for this population. In Canada, for example, Ontario’s Auditor General Bonnie Lysyk wrote in her report, Value-for-Money Audit: Public colleges oversight, published in late-2021, that: The thousands of international students who arrive in both large and small cities every year is causing rents to skyrocket across the board, making housing unaffordable not just for students, but also for domestic families and senior citizens. Demand far outstrips supply in every leading destination. Backgroundįinding, and paying for, housing in host countries is an increasingly difficult challenge for international students. This year, we are seeing more and more AI-based start-ups focused on student accommodation, and more private sector solutions addressing the problem of insufficient and unaffordable housing. In universities and colleges around the world, and across the various sectors linked to international education, AI is revolutionising processes used to attract, enrol, and provide support for international students. ![]()
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