The PBSA 2026 Report offers a comprehensive analysis of the student housing market in Spain at the start of the 2026/27 academic year. Drawing on a proprietary census of 907 residences and a demand model built campus by campus, the study measures the real gap between students who need housing and available beds: 5.5 for every bed, a gap that fails to close even if every identified project were delivered. With the provision rate for 90 university municipalities, a detailed breakdown of openings and the sector’s pipeline, and the complete transaction series since 2023, the report stands as a strategic guide for investors, operators, developers and universities looking to anticipate where the opportunity lies.