Unite Group on Wednesday predicted the number of EU nationals staying in its UK student housing blocks could fall by up to 25%.
The FTSE 250 property developer has around 2500 undergraduate customers who hail from the continent.
It thinks that could fall to 1880 by 2023.
Chief executive Richard Smith said Brexit “is creating a cloud of uncertainty for the business”.
However, he pointed out that students from the bloc account for just 8% of Unite’s customer base. Smith added: “We have a good degree of insulation because we have robust demand for accommodation from international (non-EU) and UK students, underpinned by positive future demographic drivers in this country.”
Figures this month from Ucas show 561,420 people have applied to start a course in 2019, the first increase since 2016.
Unite posted a 7% rise in 2018 pre-tax profits to £245.8 million.
It increased the dividend by 28% to 29p, and expects comparable rental growth of 3%-3.5% in the academic year starting in September.
Numis analyst Robert Duncan said: “The purpose-built student accommodation market remains undersupplied, and this is expected to remain the case even post-Brexit.”
