International Student Influx Fuels Education Property Demand

Another Melbourne CBD office floor has been snapped up by an education provider, as international students pouring into the city drive unprecedented demand.

Expert Education and Visa Services has bought level three at 313 Flinders Lane for $2.01million at the close of a hotly contested expressions-of-interest campaign by Colliers International.

The sale follows the transactions of lot 601 at 224 La Trobe Street to Asia Pacific Education Consultants for $1,956,150, and level nine at 221 Queen Street to Australian Pacific College for $3million.

Colliers International’s strata office experts Chris Ling and Anthony Kirwan are behind much of the recent sales activity, saying education and migration groups are eager to capitalise on the influx of international students from Asia and India.

Mr Ling quoted the latest Department of Education and Training statics, saying 480,092 international students were recorded in Australia as of March 2017, a 15 per cent increment from March last year.

“Thirty per cent of these students are from China (144,028) and 11 per cent are from India (52,810),” he said.

Mr Ling said Melbourne was a popular destination for students, fuelling demand for education and migration office space, as well as accommodation, in the city.

“The appetite for these lucrative sectors is growing in line with students’ recognition of Australia as a welcoming country with an impressive choice of education institutions, including The University of Melbourne and RMIT University,” he said.

“Political changes across the US and the UK, including Trump’s election and Brexit, have been a strong deterrent due to immigration restrictions. With the bonus of a low Australian dollar, this demand from international students is likely to continue.”

Mr Ling and Mr Kirwan, along with colleague Oliver Hay, have also just sold levels four and five at 100 Collins Street via expressions of interest.

Expert Education and Visa Services has bought level three at 313 Flinders Lane Melbourne.

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