Investment into purpose-built student housing could soon surpass its previous annual peak of $2.5 billion as developers and fund managers rush to accommodate the boom in international enrolments, according to industry players.

About $2.5 billion was invested in student housing in 2020 – the largest investment tally since 2014. That scheduled investment coincided with the emergence of the COVID-19 pandemic and the lockdowns that followed. Investment dried up rapidly in the immediate wake of the pandemic.