The student accommodation sector in Spain is experiencing unprecedented growth and presents highly attractive opportunities for investors seeking stable, long-term returns. At RS Bersy, we specialise in bringing together owners, operators and investors to harness the potential of this expanding market.
Overview: demand far outstrips supply
Spain has approximately 1.76 million university students, a considerable proportion of whom move to another city to pursue their studies. However, the current supply of Purpose-Built Student Accommodation (PBSA) remains insufficient:
- Bed-to-student ratio: 1 : 13, revealing a significant gap¹
- Total PBSA beds: around 107,000 across 850 assets
- Beds in the pipeline to 2026: only 14,500 new units, still leaving a shortfall of more than 400,000 beds²
This imbalance highlights the urgent need for new investment, particularly in university cities with growing international appeal.
💰 Returns and resilience: a solid investment profile
Investing in student accommodation in Spain offers competitive returns:
- Gross yield: between 5.5% and 6.5%, depending on location and asset quality³
- High occupancy rates: strong demand ensures stable income
- Resilience: the sector has proven highly robust through adverse economic cycles
Furthermore, many assets, especially those in historic or cultural areas, enjoy sustained year-round demand, as they are also used for short academic programmes, international stays and summer courses.
🏙️ Premium assets and the shift towards the co-living model
Some well-located residences — such as the asset RS Bersy is marketing on the main campus of the University of Granada — are evolving towards a hybrid PBSA/co-living model, attracting not only students but also postgraduates, researchers and young lecturers.
- Greater contractual flexibility
- A more diversified tenant profile
- Greater resilience to turnover and seasonality
It also opens up new exit strategies, closer to urban residential or even mid-stay hospitality.
📈 Market growth and projections
The Spanish student accommodation market is set to continue growing strongly:
- Projected size: €276.2 million by 2030, with a compound annual growth rate (CAGR) of 6.5%⁴
- Landmark transactions: deals such as Azora’s acquisition of a portfolio of 12 residences from EQT Exeter confirm institutional interest⁵
The long-term fundamentals remain solid, with a persistent supply shortfall and growing interest from international funds.
🌍 Beyond Madrid and Barcelona: opportunities in secondary cities
Although Madrid and Barcelona attract most of the attention, cities such as Seville, Valencia and Granada offer excellent opportunities for well-structured investments.
- Seville has more than doubled its PBSA capacity in four years, surpassing 7,000 beds, yet demand still far exceeds supply⁶
- Granada, home to one of the oldest and most prestigious universities in the country, continues to offer high-potential assets in prime locations
These cities make it possible to capture returns without facing the fierce competition and tight margins of the major capitals.
🤝 RS Bersy’s role: facilitating strategic investments
At RS Bersy, we offer a comprehensive proposition:
- Market analysis: to identify assets with high potential and strategic positioning
- Effective brokerage: we connect owners, operators and family offices with a long-term vision
- Project structuring: including long-term lease agreements, CapEx planning and collaboration with premium operators
We are convinced that a well-located, well-repositioned and well-operated residence can deliver a higher — and more secure — return than many traditional residential investments.
📚 Sources:
- GSL Global, “Spanish PBSA Market Shows Growth Potential”, January 2025
- Urbanitae, “Student Accommodation: A Focus for Investors”, December 2024
- AEW Europe, “European Residential: Finding a New Balance”, 2024
- Grand View Research, “Spain Student Accommodation Market Outlook”, 2025
- EQT Group, “EQT Exeter Completes Student Housing Portfolio Sale to Azora”, November 2024
- El País Andalucía, “Las residencias de estudiantes: la alternativa a la crisis de vivienda en Sevilla”, November 2024
I invite you to follow our page to stay up to date:👉 https://www.linkedin.com/company/rsbersy
For more information on opportunities in the Spanish student accommodation sector, or to explore potential collaborations, please do not hesitate to contact us via LinkedIn or write to me directly: james@rsbersy.com