Let’s talk about student housing: the University Real Estate market in Italy has traditionally been fragmented, dominated by smaller operators and a limited supply of quality beds.
In recent years, however, the sector has experienced significant evolution, with growing interest from institutional investors and specialized operators.
Key Pillars in the Evolution of Student Housing
Increase in student mobility
The increasing internationalization of Italian universities and the rise in the number of out-of-town students, both Italian and international, have generated a growing demand for quality accommodation. Students are seeking environments that promote study, socialization, and well-being.
Structural shortage in supply
Italy suffers from a chronic shortage of beds in the student housing sector. Public university residences often fail to meet demand, both in terms of quantity and the quality of the facilities. This gap between supply and demand has created fertile ground for the development of private initiatives.
Interest from institutional investors
The student housing market has become attractive to institutional investors, including real estate funds and investment companies. This is due to its resilience, even in times of economic uncertainty, and its ability to generate stable returns. Structural demand and low cyclicality make it an interesting asset class for portfolio diversification.
Development of new management models
The entry of specialized operators has led to the introduction of new management models that go beyond the simple rental of beds. These operators offer a wide range of additional services, including:
Common spaces: study areas, relaxation rooms, gyms, laundries, shared kitchens, event spaces.
Digital services: high-speed Internet connectivity, platforms for residence management, student-dedicated apps.
Community programs: social events, cultural activities, psychological and academic support.
High quality standards: modern design, functional furnishings, focus on environmental sustainability.
Urban regeneration
The growth of student housing is evident both in the redevelopment of existing buildings (former offices, convents, etc.) and in the construction of new facilities specifically designed for students’ needs. This also contributes to urban regeneration and the enhancement of underused areas.
Student Housing: a positive potential
The outlook for the future is therefore positive. Italy, with its university heritage and growing international appeal, has enormous potential for the development of quality student housing. The further entry of specialized operators, the increase in investments, and a more favorable regulatory framework can consolidate this evolution, transforming the sector into a fundamental pillar of the Italian university ecosystem.
The Acquisition of La Ringhiera Srl Società Benefit by Morning Capital
In this context, Morning Capital Srl Società Benefit has embarked on a strategic path to respond to the growing demand for student accommodation.
A significant step in this direction was the acquisition, in April 2025, of 100% of the shares of La Ringhiera Srl Società Benefit, previously owned by Fondazione Servizi Universitari ETS. La Ringhiera, with over 30 years of experience in student bed management, currently manages 300 properties for a total of 1,100 beds in full occupancy, mainly in Milan, Rome, and Florence, as well as throughout Central and Northern Italy.
With this operation, Morning Capital has introduced a new asset class—student housing and co-living—alongside its existing offerings: residential/living, offices, parking, and urban open space management. The acquisition enables the group to achieve a production value of over 12 million euros and aims to expand into all Italian university cities, significantly increasing the number of beds thanks to Morning Capital’s management engineering expertise.
As part of the agreement, and in support of the right to education, Morning Capital is committed not to pursue speculative objectives and to maintain affordable prices for the majority of students and their families. The social objectives also include the provision of accessible and sustainable services and products for all population groups, a commitment aligned with Morning Capital’s choice to become a Società Benefit.
In conclusion, the evolution of student housing in Italy is characterized by growing professionalism and increasing focus on sustainability and accessibility.
With this recent acquisition, Morning Capital positions itself as a key player in this process, helping to meet the housing needs of university students and promoting a responsible, sustainable, and community-oriented model of real estate development.
Article by Claudio Monteverdi
