German student housing developer Youniq is expanding into new student housing markets, with developments in Austria, the Nordic region and Benelux countries on the cards, Rainer Nonnengässer, CEO of Youniq, told PropertyEU at Expo Real.

Youniq currently owns 2,500 student housing units in Germany, including those under construction. ‘Our plan is to double that by the end of 2013,’ Nonnengässer said. International expansion is the next step, he added. ‘We are preparing ourselves for the Austrian market, looking at development sites and also at properties that could be refurbished. We would also like to roll out our student housing formula in other markets that have a similar set-up to Germany, such as the Nordic market and Benelux countries,’ Nonnengässer said.

Youniq targets cities that have a population of at least 10,000 students. In Germany alone, this gives the firm 50 cities to target. The company is currently developing some student housing units in Frankfurt, that are due to be completed by the year-end as well as some units in Munich that are due for completion in mid-2012. Other projects in Mainz, Frankfurt, Karlsruhe and Leipzig are underway. ‘We are also looking at potential projects in cities such as Darmstadt, Freiburg and Bayreuth,’ Nonnengässer said.

For Ralph Winter, chairman of Swiss private equity group Corestate Capital - which holds a majority stake in Youniq - the student housing market is a no-brainer: ‘It’s very undersupplied, not just in Germany but elsewhere. Government-provided student housing in Germany only accounts for 10% of all student housing. Youniq’s plans are very exciting; they’ve worked very closely with students to find out what they need and we think this offering is in very good shape.’