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For every student room added, more than two disappear

Sell-offs offset new construction; the Netherlands is heading toward a shortage of 18,000 student rooms by 2034

November 4, 2026

By Noortje Franssen

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For every new student room added through 2034, more than two will disappear from the private rental market. This is according to new research by real estate advisor CBRE on student housing in twelve Dutch university cities. Planned developments will not be sufficient to offset the loss of existing rooms. Despite an expected decline in the number of students, a shortage of more than 18,000 student rooms will persist in 2034.

In the twelve university cities studied, almost 38,000 rooms are expected to disappear from the private rental market by 2034, while firm and soft construction plans will add more than 16,000 new student housing units. As a result, the supply will decrease by more than 21,000 rooms on balance. Despite declining student demand, a shortage of more than 18,000 student rooms will persist in 2034, compared to more than 21,000 today.

Private rental losses undermine new supply

The decline in private supply is already evident. In the twelve cities surveyed, private landlords sold nearly 4% of their student rooms in 2024–2025. In Amsterdam, Rotterdam, and Utrecht, Utrecht, this rose to between 6% and 7%. Of the rooms sold, only one in eight is rented out to students again. The remaining rooms thus leave the student housing market.

According to CBRE, the tax regulations of real estate under Box 3 and rent control contribute to the withdrawal of private landlords. As a result, selling often becomes more attractive than renting. Even if the pace of sales gradually slows in the coming years, a quarter of the current private stock is expected to disappear by 2034.

“The Netherlands is building thousands of new student rooms, but at the same time is losing existing rooms at a much faster rate,” says Frank Verwoerd, Head of Research at CBRE Netherlands. “In all three scenarios we’ve modeled, more rooms disappear than are added through new development. As a result, the room shortage will remain significant, even if the number of students declines.”

Amsterdam is the city with the largest shortage

There are significant differences among university cities. In Amsterdam, the shortage is projected to rise from over 6,000 rooms in 2026 to nearly 11,000 in 2034. This means the capital accounts for approximately 60% of the total shortage across the twelve cities studied. Rotterdam and Leiden also continue to face shortages of over 3,300 and 1,400 rooms, respectively.

In Groningen, Maastricht, and Nijmegen, however, supply and demand are moving towards a better balance by 2034, primarily due to a decline in the number of students. Enschede and Wageningen are expected to see a surplus.

Groningen remains vulnerable in this regard: 77% of the student housing supply there is privately owned. If the sell-off continues, the expected balance could still tip into a shortage.

Housing shortages influence students’ study choices and require structural measures

The shortage of student housing also limits students’ options. Among students living at home, 63% cite affordability or a lack of housing as the reason for continuing to live at home. A lack of suitable rooms can lead students to live at home longer, choose a study program closer to home, or forgo a study program they would otherwise have pursued.

“If the trend of selling off student housing continues, municipalities will have to give student housing greater priority in their new construction planning,” says Verwoerd. “The loss of private rooms will then need to be offset on a larger scale with new construction. This will require both housing providers and institutional investors to actually increase the supply.”

Although the volume of investment in student housing reached its highest level since 2018 in 2025, the majority went toward transactions involving existing complexes. “To deliver student housing at scale, more investment in development and conversion projects will be needed,” says Verwoerd.
About CBRE Group, Inc
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services (based on 2025 revenue). The company has more than 155,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, data center solutions); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.

 

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