Unite Students, the leader of student accommodation in the UK, has released its latest trading update and quarterly property valuations for the Unite UK Student Accommodation Fund (USAF). As of 31st March, Unite has reported that 77% of its rooms are now booked for the next academic year, up from 69% recorded during the same period last year. So, Unite Students has set itself rental growth guidance of 3.0-3.5%, aiming for 97% occupancy for the 2022/23 academic year.
The general inflation in the UK this year has made many industries difficult. However, the PBSA industry is still thriving. Many real estate companies are also developing and investing in the PBSA market. For example, Amazon property has announced a £250m investment in logistics, student accommodation, etc. Within the student accommodation sector, Amazon Capital aims to provide funding for the acquisition of PBSA sites. The fund plans to provide between 300-500 student beds with its investment.
For now, investing in PBSA companies is still a risk-averse strategy for many companies. In addition, PBSA should also take advantage of the policy support and the mitigation of the epidemic to create more performance and develop the market. Chinese students are a group that cannot be ignored. Social media is the most effective way to attract young people and an excellent stage for business opportunities. Whether to operate the brand image or be close to the Chinese students and increase the bookings, social media plays a significant role in them.
There are several major social media platforms in China, such as Weibo, WeChat, Douyin, Xiaohongshu, etc. Weibo has 230 million daily active users, and Douyin has 600 million daily active users. Search keywords such as ‘student accommodation,’ ‘United Kingdom,’ or any topics with a specific city; you will see many inquiries from students on the platform. However, it is difficult for students to get an official answer directly.
Many PBSA companies have set up dedicated customer service on their official websites. Still, they can’t respond in time because of the different times, which leads the inquiries to agents and may cost more commission or lose the booking. This gives other PBSAs who have already opened Chinese social media platforms the advantage of answering questions and converting the bookings. Therefore, it is imperative to have your own Chinese social media platform and professional consultants. With experience in the operation and customer service of many PBSA accounts, Rollzoom knows that the timeliness and accuracy of message responses will greatly facilitate bookings. Choosing a professional team will make the order rate higher.
Students who have made the booking or want to get the accommodation information would have a WeChat group or a Weibo topic. The students will share their living experiences or learn about things they want to know in the group. Even if some students want to sublet, they can find the right subletter faster. By setting up the official groups, Rollzoom updated the latest information to the students and solved their questions which built an outstanding reputation. The students will make the booking when they get enough information, and they will refer more friends to join them.
No matter updating the property news or answering the enquires with no delay, Rollzoom is here to help figure out how to operate social media in China. We have an experienced and professional support team, which can help with the conversion rate and build up your positive and friendly brand image to your audiences. So come and consult us to get more information about your Chinese market opportunity.
References:
[1] Unite Students Release Q1 Latest Trading Update: https://sturents.com/news/2022/04/12/unite-students-release-q1-latest-trading-update/2886/
[2] £250m Real Estate Fund Committed by Amazon Property: https://sturents.com/news/2022/04/05/-250m-real-estate-fund-committed-by-amazon-property/2881/
