Poland’s private purpose-built student accommodation market is expanding at a rapid pace, but the scale of new supply still falls short of growing demand. In the first half of 2026, the number of beds in private student residences increased by 24% year on year to 17,900. Despite this growth, occupancy in private student housing remains above 97%, while the availability rate in Poland’s main university cities does not exceed 4%.
Over the past 12 months, nine new private student residences have opened. A further 3,900 beds are expected to be delivered by the beginning of the 2027/2028 academic year. Even so, the gap between demand and supply remains very wide.
At the same time, the number of beds in public university halls is declining. Modernisation projects are improving accommodation standards, but they are also reducing the number of beds in individual rooms.
As a result, approximately 3,000 places have disappeared within a year. The combined stock of public and private student accommodation now stands at around 112,000 beds. The PBSA segment already accounts for 16% of the total and continues to increase its market share.
“Poland’s PBSA market is developing very dynamically, but the pace of supply growth is still insufficient to meet rising demand. Moreover, new private developments are not compensating for the loss of places in public halls caused by their modernisation,” said Adam Kotarski, an analyst in Knight Frank’s Research Department.
“As a result, availability rates remain very low, while high occupancy is maintained throughout practically the entire academic year. This shows that the market still has enormous growth potential.”
Student Numbers Continue to Rise
More than 1.32 million people are currently studying at Polish universities, approximately 43,000 more than a year earlier.
Although the number of international students fell by 6% to around 102,000, it remains the fourth-highest result recorded over the past decade.
Students from Ukraine account for nearly half of all international students, while other large groups come from Belarus and Turkey.
A significant proportion of young people from other European Union countries also choose to study in Poland through the Erasmus+ programme.
One in three international students chooses a university in the Mazowieckie region, further strengthening demand for accommodation in Warsaw.
Despite Poland’s demographic decline, the higher-education participation rate — the share of students in the population — continues to rise. The number of students is also increasing faster than the number of available accommodation places.
The largest shortages can be seen in Warsaw and Poznań, where there are respectively 77 and 96 students for every bed in a private student residence.
Warsaw Set to Become the Market Leader
Kraków remains Poland’s largest PBSA market, with nearly 5,150 beds. However, Warsaw is expected to overtake the capital of Małopolska within the next two years, supported by the delivery of around 2,000 new places.
The Tricity market is also developing rapidly. Its PBSA stock is expected to more than double by the end of 2028.
Poland’s market remains dominated by two operators: Student Depot, which has nearly 4,600 beds, and Xior Student Housing, with a portfolio of approximately 4,000 beds.
Other operators are also becoming increasingly active, including Milestone, SHED Living, StudentSpace, Zeitraum Student Housing, Start Park, Collegia and Reside Etudes. This confirms the continued professionalisation of the sector.
High Occupancy Supports Rent Growth
The persistent imbalance between demand and supply is reflected in an occupancy rate of approximately 97%.
In practice, this means that places in the largest university cities are often reserved several months in advance.
Market conditions are also influencing rental levels. Łódź remains the least expensive market, where a single room can be rented from around PLN 1,800 per month.
The highest rates are recorded in Warsaw, Wrocław and Kraków.
In Warsaw, monthly rents for a single room range from PLN 2,600 to PLN 4,800, while a place in a twin room costs between PLN 1,650 and PLN 3,000.
Fees are determined primarily by the location and standard of the property, as well as the range of services and amenities available to residents.
Strong Market Fundamentals Attract Investors
Although Poland’s PBSA investment market remains relatively young, its fundamentals are very strong.
A persistent shortage of accommodation, stable occupancy and capitalisation rates of approximately 6% — significantly above the levels seen in Western European markets — are making the sector increasingly attractive to investors.
“The PBSA sector in Poland remains an attractive asset class with further growth potential,” said Sylwia Jankowska, Investment Adviser in Knight Frank’s Capital Markets Department.
“The rising number of students, the professionalisation of operators and the persistent supply gap are creating stable foundations for continued market development.
“We expect that, as the sector matures, both development activity and interest from institutional investors will continue to increase.”
According to Knight Frank’s latest report, Poland’s PBSA market is developing dynamically, but demand continues to significantly exceed supply. Combined with the steadily rising number of students, this imbalance is expected to drive further investment in the coming years.
Source: CEO.com.pl
