Broker Name: DBS

Date of Report: Inferred to be June 2024 (based on content cut-off and references to academic years 2024/25 and 2025/26)

Excerpt from DBS report.

Report Summary

• Mapletree’s wind-down of its student accommodation fund is due to portfolio-specific and market factors (older assets, higher costs, pandemic disruptions), not a structural downturn in the Purpose-Built Student Accommodation (PBSA) sector.
• Sector fundamentals remain supportive, with overall positive metrics (high occupancy, stable rent growth) seen in major listed operators, especially for modern, well-located properties, though some softness is noted in the US and international student demand is under pressure.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com