In today's economic environment, the need for affordable student housing is more pressing than ever. Rising living costs and escalating tuition fees have placed a substantial burden on students, impacting not only their financial well-being but also their academic performance and overall mental health. According to the European Student Living Monitor (SLM) 2024, nearly two-thirds of students are affected by financial stress, with 21% expressing constant worry about their finances. This financial strain underscores the necessity of providing housing that balances affordability with quality—an approach we are committed to at Catella, where we prioritise the fundamental needs of students without burdening them with unnecessary expenses.

Strategic Locations

One of Catella’s key strategies for maintaining affordable rents without compromising on quality is to invest in well-connected locations rather than high-cost, central areas. By situating our properties near major transportation hubs and university campuses, we ensure that students can commute efficiently. SLM findings show that students living in well-connected accommodations report higher levels of happiness and well-being. Furthermore, the SLM highlights that long commute times—those exceeding an hour—correlate with significantly lower mental health scores. By prioritising strategic locations, we can offer lower rental rates while still providing students with convenient access to their academic institutions, effectively alleviating both financial and psychological stress.

Essential Amenities

In designing student housing, Catella prioritises essential amenities that support academic success and personal growth, rather than luxury features that drive up costs. The SLM provides clear evidence that the most impactful amenities are those that foster a conducive environment for study and social interaction. Communal spaces and, study areas are among the top contributors to student well-being, as reported in the SLM. By focusing on what truly matters, we are able to keep rents affordable without compromising on the quality of the living experience. Further, by avoiding high-cost features, we can maintain lower rents, ensuring that students are not forced to take on part-time jobs or additional loans just to afford their accommodation.

Studio Apartments for Privacy and Focus

Privacy and personal space are critical for students' academic focus and happiness, and our portfolio reflects this understanding by offering primarily studio apartments. The SLM shows that students in PBSA do value their privacy element, and having a safe, personal space of their own. SLM data also shows that students in fully private spaces report slightly higher well-being scores compared to those in shared accommodations – as they have more control over when they want privacy vs when they want to socialise. Their own space is essential not just for concentration and study, but also for providing a retreat where students can recharge. By offering studio apartments, we ensure that every student has a dedicated area to live, study, and relax without the distractions that can come from shared living space.

Community Engagement

While privacy is important, so too is a sense of community, which plays a vital role in student well-being. We actively organise community events that encourage social interaction and build support networks among our tenants. Loneliness is the most pronounced personal issue identified by SLM, and the data strongly supports the importance of these initiatives, revealing that students who participate in community events and use shared spaces report significantly better mental health and higher overall satisfaction with their living experience. For instance, sStudents who often take part in community events and activities have better mental health scores (62.0) by 6 points compared to those who choose not to take part (55.8). Catella events are designed to be low-cost yet effective in promoting a sense of belonging and camaraderie. By focusing on community rather than unnecessary features, we help students build meaningful connections without the associated financial burden.

Feedback and Improvement

Listening to our tenants is a cornerstone of Catella’s approach. Catella conducts regular surveys to gather feedback from our residents, ensuring that we understand their needs and can continually improve our services. This open line of communication allows us to address concerns promptly and adapt our offerings to better meet the evolving demands of our student population. By actively engaging with our tenants, we can fine-tune our approach to providing affordable, quality housing that genuinely supports their well-being.

The SLM data is also a valuable tool for us as it gives insights to housing providers to adapt and enhance their services to better meet the evolving needs of students. Such data-driven proactive approach not only helps in promptly addressing any concerns but also in refining our housing solutions to better students’ overall success.

Conclusion

Affordable housing is not just about cutting costs; it's about making strategic decisions that prioritize the needs and well-being of students. The insights from the European Student Living Monitor 2024 reinforce the importance of these strategic choices. By focusing on well-connected locations, essential amenities, studio apartments, community engagement, and continuous feedback, we provide housing solutions that offer both quality and affordability. The SLM data supports this balanced approach, ensuring that students can thrive academically and personally without the additional stress of financial strain. As Catella continues to refine our strategies, we remain committed to supporting the next generation of students with housing options that truly meet their needs.

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