New study by bulwiengesa and Union Investment

Münster beats Amsterdam – where are the best prospects for student housing?

Did you know? The university city of Münster, with its almost 60,000 students, is currently the most attractive location for investment in new student housing.

That is the finding of a new city ranking by Union Investment and bulwiengesa, part of an in-depth study comparing supply and demand in this sector across 61 German cities using 18 different metrics. Münster is followed at the top of the ranking by Cologne, Stuttgart, Karlsruhe and Hanover. The lowest ranked city is Trier – below Kaiserslautern, Bamberg, Greifswald and Chemnitz. The study also examines four non-German cities: Dublin, Amsterdam, Paris and Vienna, all of which ranked in the top third.

For more information, see the complete study, which you can download here free of charge.

Initial insights from the study

Ranking: all seven German Class A cities and the major European cities among the top 20

Münster, Cologne and Stuttgart lead the list. The four major European cities surveyed also made it into the top 20.

Chart Student Housing

Comments on the study

Felix Embacher

Felix Embacher

Head of Division Microliving, bulwiengesa

“The top 20 cities with the best conditions for investment in the student housing sector are an interesting mix comprising all seven German Class A cities, four major European university cities, plus a number of ‘hidden champions’. A strategy that focuses exclusively on Class A cities ignores the opportunities that Münster, Karlsruhe, Hanover, Ulm, Braunschweig, Darmstadt and Koblenz in particular have to offer.”

Georg-Christian Rueb

Georg-Christian Rueb

Fund Manager of Urban Living Nr. 1 and Urban Campus Nr. 1. Micro-Living at Union Investment

“Rental expectations and appreciation are likely to be more modest in future as the market will be unable to maintain the price dynamics of the start-up phase. So it will be interesting to see how things pan out in the student housing asset class over the coming years.”

Henrik von Bothmer

Head of Operated Living, Union Investment

“As the sector undergoes dynamic expansion of supply and increasing professionalism through private-sector players, we should not overlook the enormous potential of the mid-price Segment.”

Please click on the pictures.

How to contact us

Do you have any comments or questions about the study, or an investment opportunity that might interest us? Please contact us by phone or e-mail. We look forward to hearing from you.

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Micro-living – here to stay

Socio-demographic changes and increasingly flexible employment conditions are reflected more strongly in the emerging micro-living asset class than in virtually any other housing trend. Read more about our investment criteria.


Our investment criteria

For institutional investors: special funds with a focus on campus real estate and micro-living

Special funds have already been launched for institutional investors that focus on residential apartments, student apartments and micro apartments, as well as on campus properties that offer an urban living experience characterised by flexible space concepts capable of supporting co-working and sharing trends.


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