The Lucrative Niche of Student Housing in Zambia
Just how lucrative a property investment is student housing (boarding houses) in Zambia? In this article, we explore some interesting trends and facts to keep in mind and discuss the potential in this niche investment opportunity.
Zambia has a young growing population estimated at approximately 17 million as of 2018 with over 45 percent of this population aged below 15 years of age (Source: https://www.zamstats.gov.zm). This represents some opportunity for the property market as this is a good-size potential market for future student housing needs. A further 20 percent of this population is aged within the 15 to 25 age bracket which includes a growing and existing market for student housing.
A sharp rise in private sector participation in tertiary education has led to a rapid increase in enrolled student numbers with most institutions relying on external student housing facilities (boarding houses as they are commonly referred to). In Lusaka alone, there are now over 26 tertiary institutions with most of them serving both commuting day students and boarding students that need accommodation close to these tertiary institutions.
These key demographic data and trends speak for themselves and indicate significant potential in the student housing property investment niche. And while student housing seems a very lucrative investment option, it is important to carefully plan your investment before venturing into this niche area. Before you decide on investing in purpose-built student housing, you may consider looking at simply upgrading existing structures or homes that would serve the purpose just as fine. Look out for properties near tertiary institutions that can easily be renovated to meet student needs. Key things to consider are number of rooms, bathrooms, extra space that may be converted into bed-space or storage. All this adds to the maximisation of space and potential revenue earnings from your property investment.
Other key considerations include security, public transportation routes and proximity to these (bus stops, taxi ranks, etc.), and regulations from relevant authorities (town councils, health boards, etc.) so you ensure you are fully complaint with governing laws and regulations. If carefully planned, student housing can be a very lucrative investment choice. With a steadily growing number of tertiary institutions and demand from both local and international students, this property investment niche is one to consider keenly.
If you are considering this as an investment option, get in touch today and we will help guide you on your planning. Already running a student boarding house facility in Zambia? List your facility with us today for FREE! Contact us for details or sign up HERE.
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Thanks for sharing this great article and eye opener.
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