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International students coming to study in the UK are increasingly opting for shared accommodation to combat loneliness.
New research from guarantor company Housing Hand has shown that over the last twelve months there has been a growing number of guarantor applications on behalf of international students for Houses of Multiple Occupancy (HMOs).
The average HMO applied for by international students has between 3-5 bedrooms and shared kitchen and bathroom facilities.
According to Housing Hand, many international students are opting for shared accommodation, so that they can make friends quickly and avoid feeling alone. This is echoed by a recent report from the BBC which shows that three quarters of 18 to 34-year-olds living in Britain say they feel lonely.
This offers further opportunity to buy to let property investors, as HMO investment usually enjoys a higher percentage yield return on investment.
Jeremy Robinson, Managing Director of Housing Hand commented: ‘Many international students opt to live initially in shared accommodation, so they have time to make some friends and then move to a flat to share, in their subsequent years at university. It can be very daunting starting student life in a new country and we have helped thousands find their first property with our UK guarantor service.
‘Before international students make an application for rental accommodation, it’s important they carry out some research into the areas around the university and potential places to live. Ensuring there are good transport links to the campus is vital if the accommodation is not within walking distance. The closer students live to a university, the higher the rent prices.
‘If students plan to walk to the campus, they need to make sure they have checked the safety and security of their walking route. They should avoid poorly lit, isolated areas and stick to main roads that have good street lighting.’