Singapore captures 7% of APAC student housing deals in H1

Outside Singapore, SEA's demand is domestic-student-led, driven by rural relocation.

Singapore ranked third in Asia Pacific’s student housing transaction volume for the first half, capturing 7% behind Australia's 61% and Japan's 26%, according to JLL.

In its Student housing in Asia-Pacific (APAC) report, published on 11 August, JLL said "Japan and Singapore followed, signalling the gradual emergence of a multi-market investment universe for student housing across [APAC].”

This comes as APAC's Living sector transaction volumes reached $16.0b (US$12.6b) in 2025, a 77% year-on-year increase, with H1 2026 sustaining momentum at $7.7b (US$6.1b), up 1%.

JLL said student housing is emerging as one of the sector's most dynamic growth segments, with 2025 volumes tripling since 2022.

Student housing's share of total Living sector volume reached 12% in 2025, up from 8% three years prior.

Singapore is amongst the countries with the most liquid markets in the overall Living sector, alongside Japan and Australia.

The city-state captured 14% of Living asset transaction volume in APAC by country in 2025, behind Japan's 54%.

"Elsewhere in the region, particularly across Southeast Asia excluding Singapore, demand for student housing is being driven less by international flows and more by increasing domestic students, especially those relocating from secondary cities with limited university access and from rural areas," JLL said.

JLL cited the National University of Singapore ranked 10th and Nanyang Technological University ranked 12th in the QS World University Rankings 2026/27—Singapore's two entries amongst the region's "33 of the world's top 100 best universities."

"Government support in student housing through initiatives such as property tenders is creating a professionally managed sector with predictable returns," said Ling Wei Tan, Executive Vice President, Investment Sales Asia, Hotels & Hospitality Group at JLL.

Tan added that this presents a rare opportunity for investors to enter an institutionalised market with government backing, strong demand fundamentals, and lower execution risk than speculative development.

(US$1 = SG$1.27)

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