After several years of pandemic, we can affirm that this 2022 is positioned as the true return to normality in every way.
As far as the Erasmus+ program is concerned, which is celebrating its 35th Anniversary, the recovery shown this year has been considerable with a significant increase in its figures. Specifically, SEPIE reported that this year a total of 3,112 Erasmus+ mobility projects are financed, compared to 1,916 last year, and the fact is that the pandemic reduced this mobility by 40% .
The economic impact of international students in Spain is estimated at more than 3.5 million euros according to an ICEX report and the multiplier effect of student spending is 2.27 .
The most profitable option
However, the amount that the students receive -around €400- only partially finances their stay in the destination and they must assume important expenses for their maintenance. One of the main ones is accommodation. But what is the most profitable option: shared flat, college or student residence?
“Students can choose different accommodation options, from colleges, residences, to shared apartments in the city. The former have more services and foster community among a large group of students. Shared apartments are cheaper, there is more variety and each time students choose them to connect more with the destination city, because a room in a shared apartment can be 60% cheaper than other options. In any case, the demand for flats far exceeds the supply.
In Spotahome practically all the residences and flats that are published are rented immediately” says Eduardo Garbayo, Head of Business and Operations of the medium and long-term rental platform, Spotahome, with extensive experience in the movement of students in 28 countries.
The Colegios Mayores cost between 1,000 and 1,500 euros on average, and the residences between 600 and 750 euros per month . For its part, a room in a shared apartment is around €500. That is why this last option has become one of the most desirable, especially now that the current situation of rising prices of life in general means that students -and their families- have to decide very well how to do against these expenses. Thus, the platform for medium and long-term rentals, Spotahome, have detected that Erasmus rentals have increased by 27.5% this year compared to last year.
Erasmus in Spain
According to company data, the cities most in demand by students to rent or share a flat are Barcelona (€550/month on average), Madrid (€500/month on average) and Valencia (€350/month on average), in our country; and abroad, Milan (€600/month on average), Lisbon (€400/month on average) and Berlin (€650/month on average).
Likewise, Spanish students who travel outside our borders in this course have mainly chosen Milan (€600/month on average), Lisbon (€400/month on average) and Rome (€500/month on average).
“The most demanded type of flat to share are flats with 3 to 4 bedrooms, with large common areas and in the center of the city,” they say from the company.
