Amenities offered in Tier 1 cities
Our research showed that, in regard to common areas and facilities in private properties,there are five main difference makers across the major university cities (Tier 1) of Europe and the UK: the presence of gyms (accounting for an almost 20% difference between products), study rooms (15%), TV rooms (20%), games rooms (15%) and terraces (15%). None of these facilities exist in the average rented property marketed at an average price. Turning to the amenities offered by both premium and average products, BONARD identified that laundry rooms (90% share in both), multifunctional rooms (70%), bike storage (60%) and communal kitchens (50%) made the difference.
Amenities offered in Tier 2 cities
The product quality difference is greater in Tier 2 than in Tier 1 cities, where market demand is more driven by competition. In Tier 2 and smaller cities, local developers often work in a different style and with an eye to different client needs to those identified in the more developed markets catered to by Tier 1 providers. Difference makers in smaller cities include gyms (15%), study rooms (15%), communal kitchens (15%) and terraces (20%). Smaller assets generally feature multifunctional rooms encompassing games and cinema facilities in a single space.