Housing for young people
In recent years, housing young people (students and youngsters aged 18 to 28) has been a hot topic in the Netherlands. Affordability, location, good services and proper building and campus management are important aspects in creating housing for this group. Housing developments can be located anywhere in the AMA as long as connections to major hubs and educational institutes are available or can be created.
Why invest in Housing for young people locations?
The AMA-pullThe attractiveness of cities, drawing people from the countryside into urban areas is an ongoing global phenomenon. The AMA attracts thousands of people from all over the world seeking to start a new life within the region. While many of the people who move towards cities are young, not all the moves are work-related because students are also known to (temporarily) live near their educational institute. Therefore, different types of young people move towards the AMA.
Professional and higher educational institutes can be found throughout the AMA, where (international) students can study, develop and practice new theories and methods. In addition to educational institutes, (multinational) companies also relocate their businesses to the AMA. Large international operating companies such as Booking.com, Nike and Tommy Hilfiger recently opened headquarters and attracted employees from all around the world. And, recent years have shown that the AMA is also very interesting for start-ups, attracting young people from everywhere.
The combination of educational opportunities and multinational businesses (and the young people they attract), creates a considerable and ongoing demand for housing and therefore opportunities to invest in purpose-built housing for this group.
ChallengesHousing young people presents numerous challenges. The most important challenges include their tendency to be footloose (not bound to a particular city or place), insecure position in the job market and uncertain household situations. Affordability is the least important aspect in relation to housing this target group. Because of its attractiveness, housing prices in the AMA region have risen in recent years. The municipality of Amsterdam in particular has awarded priority to affordable housing for students and young people.
The extensive body of rules governing maximum rents, rental contracts and housing, and building in general, presents yet another challenge in the Netherlands.
Important aspects in student and young people housing developmentsWhen developing purpose-built housing for young people, it is important to bear several conditions in mind that will increase the success rate of investment. First, good services and meeting places are crucial. Meeting other people is one of the most important aspects of human life. For example, creating a meeting place (café, bar, club, sports grounds, etc.) where residents can meet one another is a necessity.
Access routes are a second aspect to bear in mind. Travelling by bicycle, bus, train or car are all included in the ‘toolbox’ of young people. The option of travelling easily to other cities and/or institutes is especially important.
A third aspect, ‘building and/or campus management’, relates to managing the area in and around the development. Housing several hundred young people together without any management will reduce the attractiveness of living in such an area. The municipality of Amsterdam is familiar with several cases where good park/building management defined the success of a big project.
These three aspects are based on our experience in housing this group. While introducing or incorporating these aspects into your project is not compulsory, it would be highly recommended. You can contact us about investments in the AMA or if there is anything you would like to ask about housing for students and young people in general.