MiCasa 2011 & International Students

Now that election's uncertainty is over, we're clear of one thing: the international students market will be downsized whether intentionally or unintentionally.

Over the past few months, we have read news such as

AUSTRALIA has the highest proportion of international students enrolled in its tertiary institutions in the world, according to an international study.

It was also more reliant on students to pick up the bill for tertiary education than most other developed countries.

most other countries had been investing heavily in tertiary education while in Australia investment dropped from 1.6 per cent of gross domestic product in 1995 to 1.5 per cent in 2007.

He said Victoria - where international education is the biggest export industry, worth about $4.5 billion a year - had the most to lose.

For the first time, we're noticing significant downturns

The sector warned that the migration debate was further hurting Australia's attractiveness to students. "The received message in other countries -- among students, parents and others -- is that Australia doesn't value international students," the Go8 said.

Let's not forget the impact of Global Financial Crisis (GFC) last year or so. Normally we'll feel the impact 2-3 years later like how we did during 1997. The impact was obvious during 1999 and 2000 where the international students intake was low.

So, what's it gotta do with MiCasa8 (131 Pelham Street, Carlton VIC)? Lots of things! The whole building is probably 97% international students!!

This year (2010) we managed to achieve better than expected as we started earlier and before GFC is even famous! However, along the way, sadly, I have few tenants who had to leave the place as GFC has taken a toll of their financial situations.

For 2011, we have started accepting and processing applications. The responses are still coming in very quick and most apartments under $320pw are snatched up right after they have become available!

The quota for June 2011 leases has been filled all by renewals of existing tenants. So things are still "OK" for the moment.

An advice for all international students who are coming to Melbourne and wanting to stay in MiCasa8 is to start applying early!

Now, some of you might be wondering why the bad news earlier then asking us to apply earlier? Doesn't make sense! 

Well, my message is, the cheaper apartment ($320pw) and below will be gone very quickly! So if budget is your concern, start earlier otherwise, don't be too worry!! :)