Colliers Report: Student housing demand maintains high occupancy rate
August 31, 2022
Commercial Real Estate Research & Forecast Report
Q2 2022 South Carolina Student Housing
Market Highlights
Over the past two years, South Carolina’s student housing market has added 5,203 beds. Demand was strong enough that the occupancy rate remained above 90% during the same period. New deliveries have occurred in waves allowing demand to catch up to supply. During the second quarter of 2022, all South Carolina student housing markets saw rent growth.
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Key Takeaways
- Over the past year, the overall occupancy rate remained high despite new deliveries each quarter
- Ongoing demand will boost student housing growth for the remainder of 2022, pushing rental rates higher
Forecast
To end the second quarter, the South Carolina student housing occupancy rate was 91.15%, despite 421 new deliveries, and the average asking rent per bed rose to $827.55. Overall price per bed will continue to increase during the second half of 2022 due to ongoing demand and new construction deliveries.
About Colliers
Colliers | South Carolina has over 140 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2021 brokerage volume exceeded $1 billion, which included over 590 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of over 17 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold 54 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina and set a new record by managing a portfolio of projects approaching $1 billion in volume during 2021.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our more than 17,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. With annualized revenues of $4.3 billion and $65 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
