Virtual learning threatens investment in student housing – Report

The advent of 6th Generation (6G) technology would disrupt investment in student housing globally, according to a new report from Estate Intel.

The report titled “The Next Growth Frontiers in African Real Estate: ESG, 6G and Alternative Asset Classes” noted that the arrival of 6G later this decade would prompt more schools to migrate from physical classrooms to virtual learning, thereby have an adverse impact on investment in student accommodation.

He stated: “If we look at student accommodation in developed countries like the UK or the US, we have seen great strides in the last 30 years. But today the world is different and tomorrow it will be even more different. With the arrival of 6G at the end of this decade, holograms will become a reality. And, therefore, the way of teaching will be very different from the one we know today, where we will go from a physical way to a virtual way. This will have an impact on student housing.”

A real estate specialist, Kevin Teroovengadum, in an interview with Estate Intel, said: “We all know that in key markets like Nairobi, Lagos, Abidjan, Senegal, among others, there are increasing numbers of students locally and regionally, as that these cities are centers in their respective regions. But then the question I have is what the future of student housing will be with the education being done in the Metaverse.”

He stated that environmental, social and governance, 6G and alternative asset classes were the next growth frontier for commercial real estate globally, adding that Africanising the ESG agenda was highly essential.

Talking about office spaces in the future, the specialist stated that the days of needing massive office spaces are long gone, describing that this can be seen happening internationally, where remote work wiped out US$450 billion (the size of Nigeria’s GDP) out of office real estate. .

He added: “We in Africa must get ahead of ourselves so as not to create an oversupply of offices. Once again, I will emphasize the arrival of 6G very soon, which will radically change the way we work.”