Student housing provider in Dundee collapses, leaving dozens scrambling for new homes

The sudden insolvency of the Marketgait Apartments owner in Dundee left almost 70 students without a place to live just as the academic term began, prompting individuals such as Nathalie Sriwiboonrattan to spend £850 on moving costs and secure a new studio in a nearby block. This collapse highlights a broader crisis in the PBSA sector, where falling numbers of overseas students, a cost-of-living squeeze and higher financing and construction costs have strained providers.

Upscale student blocks, once marketed as modern alternatives to traditional shared housing, now charge rents that outpace maintenance loans, especially outside London where average weekly rents hover around £191. International students, limited to 20 work hours per one outlet, find PBSA particularly unaffordable, leading many to seek university-run or private rentals despite issues like poor Wi-Fi or infestations. Occupancy rates vary across cities, with some blocks nearing full capacity while others sit partially empty, prompting owners such as Unite Group to trim portfolios and focus on locations with strong university demand. The situation has sparked concern among student representatives about the affordability gap and the need for better regulation of high-end student housing.