For students, accommodation is more than just a place to sleep—it’s where friendships form, communities thrive, and university life begins. As student needs evolve, so too must the design and management of student housing. Global Student Accommodation (GSA) is at the forefront of this transformation, rethinking communal spaces, adapting to changing social habits, and forging stronger partnerships with universities to create living environments that enhance both student well-being and academic success.
James Hunt, Global Head of Real Estate at GSA, shares insights into the latest trends shaping student accommodation, from the growing demand for communal kitchens to the shift in university housing strategies amid financial pressures. He also discusses how GSA’s approach is helping students build stronger connections and how private-sector partnerships can play a vital role in the future of student living.
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GSL News: How do you think being part of the Dot group puts GSA in a unique position?
The Dot Group is comprised of market-leading businesses focused on transforming student living, with a vision to serve over one million students each year. The Group includes GSA as an asset manager, Yugo as a property manager, and Kinetic, which is a debt lending platform currently focused on PBSA. You also have Student.com, a globally recognised online marketplace marketing beds for many different companies—not just Yugo and GSA, but investors all over the world.
The joy of being part of our wider group is that we have people across the world who have been embed in the sector since it was established. This breadth and depth of knowledge and experience is second to none. We’ve encountered all kinds of risks and opportunities over the years, which gives us the ability to navigate challenging times, while also understanding where the sector is heading based on our own experience of how markets mature. That experience allows us to harness opportunities and be ambitious in a way that’s unrivalled.
Our Group also provides us with a depth of understanding across multiple disciplines—technology, property management, asset management, lending, investment, development, value-add strategies. Basically, we do anything that you could think of in relation to student housing. You’ve just got this amazing engine room of talent and experience, with a broad and deep understanding of the sector. I’m hard-pressed to think of anyone that has that type of breadth across their group.
GSL News: GSA recently expanded into Italy and France. Is your strategy to continue to expand into new markets, or will you now focus on consolidating your presence in the markets you are in?
We might enter one more market in 2025 because we’re looking at investments in some multi-country portfolios, but our focus is to double down in the countries where we’re already present and realise the opportunity.
For example, entering Italy as a new market took about 18 months. You need to understand each market’s nuances — macro and micro — before you commit, because these are big decisions. Our initial two projects have a built-out value of €200 million, so it’s not pocket change.
We take a research-led, disciplined approach when selecting markets. Once we establish a presence, opportunities open up because we’ve demonstrated that we’re serious. Putting plans into motion is really important.
The other thing I’d say is the depth of opportunities out there—they’re massive and are all different. For example, in Italy, it’s more of a development play due to the low levels of provision. In France, it’s a mix of development and investment in existing assets, albeit the market is not as well-supplied as the UK. All these markets require different strategies, and we remain open to expansion where it makes sense.
GSL News: Can you give us some examples of how you tailor your approach to new markets, but still maintain consistency across your global portfolio?
It’s not a one-size-fits-all approach. Take the US, for example. Apartment configurations there are quite different from the UK. In the US, there’s more land, bigger unit sizes, you have walk-in wardrobes. In the UK, that same space would be better used as an extra bedroom. Taking a UK model and assuming it will translate to the US would be crazy.
There are instances where we can improve density, reconfiguring buildings, improving the bed count, without moving too far away from what is the norm. In the UK and central Europe, where sites tend to be smaller, you’ve got to make every penny count in terms of what you build. In the US, when you’ve been blessed with more space, that pressure isn’t the same, and so we can push the envelope in terms of bringing some of our experience to ensure things are viable for the US market. That’s why I wouldn’t say one-size-fits-all—it’s about understanding of what works in different locations.
Another example—we have been present in Tokyo, Japan for quite a few years now. It’s an incredibly difficult market with very high land values. We had to be exceptionally innovative in terms of our product offering and be very compact in terms of the area that people have as a bedroom. We have six people living in 36 square metres, which is far denser than anywhere else. We took that learning to Melbourne, adapting the concept to create compact studio rooms, which then allowed us to enter the market at a different price point. This was very interesting for me because there will always be pressure on student budgets. However, if you compromise a little on space, but students still have access to well-managed, safe, secure and high-quality accommodation, then that trade-off in return for lower rent is something that people find quite acceptable.
Ultimately, it’s about understanding local market norms and finding ways to innovate without straying too far from what works.
GSL News: This year marks 10 years since GSA entered Ireland. What can be learnt from your experience in developing and shaping the sector there when looking at more nascent European cities?
One of the reasons behind our success in Ireland was first-mover advantage. We were able to assemble the very best sites early on, develop them to a very high standard in unrivalled locations – something that would be hard to repeat today.
But with that pioneering attitude comes some challenges. From a planning and entitlement perspective, purpose-built, privately-run student accommodation wasn’t really a known thing. We had to go through an education process with stakeholders, the Council and the Planning Department, to establish the appropriate space standards and the management protocol—even the nuances of how to check in 500 people over a weekend in September, while managing traffic flows and not annoying local residents. Getting to that level of granularity and working hand in glove with those stakeholders when you’re pioneering and establishing a new sector and a new offering is really important.
Building long-term relationships with universities was also critical. It may take time for universities to trust a partner, but by proving our credentials and demonstrating reliability, and that we are a safe place for them to house their students, we’ve developed strong partnerships. Many now have nominations agreements with us.
Establishing the right relationships and fostering trust is really important to us, and the approach we took in Ireland has become our blueprint for entering other markets.
GSL News: There seems to have been a focus on Europe in the past few years for GSA, but you have a global footprint. Does GSA have plans to enter markets elsewhere in the world?
Yes, but it’s a question of timing. We are at scale in the US, Europe and, to a lesser extent, APAC. I think in the short-term our focus is on consolidating our position and really accelerating growth in the regions where we already have a presence.
There are emerging and some less established markets where we’re not yet present. Canada is one example, where you do have the beginnings of the sector.
India is another. I’d say it will likely be some time before we consider investing there, and when we do, it would likely be on a third-party management basis with Yugo. It’s crucial to establish credentials in the property management space, and to have a better understanding of the market before we seek to invest.
This approach also presents opportunities. Many of Yugo’s third-party management clients may, at some point, consider an exit and look to sell. As an asset manager, GSA works with capital partners to acquire such assets, making it a logical exit route for those parties. Being part of a wider group makes this quite interesting.
GSL News: Collaboration between GSA and Yugo is central to successfully delivering exceptional student experiences. How does this partnership work in practice, and how does it add value for both investors and students?
A real-life example: I was in Dublin recently, spending some time with the local team and Yugo’s management team, reviewing our amenities and understanding the latest cohort of students that moved in last September—what their wants and needs are and how they have changed year on year. One thing that came through loud and clear was an increased demand for study space.
So based on student feedback, what can we do differently? Should we do some refurbishments to repurpose existing amenities into study spaces? Is that the kind of thing we should be doing?
Being out there in the field—listening to students, knowing their evolving needs—is crucial. Being able to act on these insights quickly is what makes our partnership with Yugo so valuable. Operators need to be in tune with evolving student needs, and by working closely with Yugo, we can quickly adapt our offering.
GSL News: Speaking of changing student demands, do you see any major trends or challenges shaping the PBSA sector? How are you adapting to meet them?
There are challenges. In established markets, there is increased competition, which is a good thing because it gives consumers more choice. But in cities with higher levels of provision, differentiation becomes crucial. That’s where the strength of the Yugo brand comes in—offering more than just accommodation, but a real focus on well-being, experience, and service quality. Being able to set us apart in terms of the quality of our offer is an important aspect of competing in these markets.
In other markets, the challenge isn’t competition, but viability. There’s enormous demand but there are barriers to getting new schemes off the ground. That’s where innovative design and development strategies come into play.
One thing that won’t change is the demand for high-quality student accommodation. Higher education remains a priority, and students will continue seeking safe and secure living environments that set them up for success. That’s why we spend a lot of time understanding which markets will thrive—those with top-tier higher education institutions and growth potential. Those are the ones that we want to focus on. It’s not as simple as assuming student numbers will rise everywhere. Identifying the right places to invest requires a more strategic, market-specific approach.
GSL News: You mentioned the growing importance of study spaces and the need to focus on that. Do you see any other emerging trends or themes when it comes to students’ changing needs that are impacting future design plans?
One surprising trend I came across recently is the increasing use of communal kitchens—even in buildings where students have private kitchen facilities.
This reflects a shift away from the traditional nightlife culture. Years ago, student socializing revolved around going out in the evenings—heading out at 8 PM and returning at 1 AM. Now, students still want to socialise – but more students are choosing to stay in, cook nice food together in a larger kitchen that can seat 30-40 people, and socialise in shared spaces. This reflects a demographic shift as well as a broader shift towards healthier lifestyles.
We have one property in the US where we have had to introduce refrigerators in the postal room because students are increasingly using meal box services such as HelloFresh. So, we are having to look at different types of storage in postal rooms to keep these fresh.
We’re adapting to these trends in new developments. For example, in Italy, we’re planning communal kitchens on every other floor, in addition to private kitchens in apartments and studios. Let’s face it – if students build stronger social connections in their accommodation, they’re more likely to live with us for multiple years.
GSL News: How does GSA work with universities, and how do you see this evolving as financial pressures on universities increase, as recently seen in the UK?
We have strong relationships with universities globally. In the past, universities were sometimes quite apprehensive about working with the private sector because it meant entrusting their brand and reputation to external partners – people they may not have worked with previously. But over time, trust develops when you see that a partner consistently delivers on their commitments.
With growing financial pressures, universities are increasingly questioning whether managing accommodation is the best use of their resources. Their core mission is to educate, and while it makes sense for universities to provide housing—especially for first-year students who are experiencing being away from home for the first time—the investment required is significant.
Partnering with a specialist in student accommodation allows universities to focus on their primary purpose while ensuring students still receive high-quality living experiences. Owners and operators like us live and breathe the business of creating communities, managing accommodation, and enhancing student life. We do one thing, and we do it well.
Collaboration with the private sector can take many forms, from leasing arrangements, or nominations agreements, to joint ventures. For example, a university may sell existing accommodation into a joint venture while retaining a stake in the partnership and a say in management decisions. This allows them to unlock capital that can be reinvested into academic facilities. Looking ahead, we expect to see more of this model.
In the UK and US, universities often work with private operators both on-campus and off-campus through leasing agreements. This approach is now expanding into more nascent markets like France, Italy, and Germany—something we’re already seeing.
GSL News: Looking ahead, what legacy does GSA hope to leave in the global student housing industry?
Think back to the friendships you had in your late teens—many of those connections likely still exist today. It’s a transformative time in life—you’re growing up, learning about the world, facing challenges, but also having fun, free from the responsibilities that come later as you get older.
This is a precious time in a student’s life. If we can provide high-quality accommodation and exceptional management that allows students to truly enjoy this period—building friendships, making memories, and living their best life—then that’s the kind of legacy we want to leave. We want to create environments where students feel at home, supported, and set up for success.
Beyond that, student accommodation plays a role in academic outcomes. If you’re happy where you live—where you spend a lot of time—if you feel comfortable and connected, it positively impacts your university experience and, ultimately, your academic success.
Multiply that impact by the number of students we house. We have 45,000 beds within GSA and Yugo have 100,000 students living with them. And as we continue to grow, so does our influence on students’ lives around the world. That’s a powerful legacy.
