Data by Barbour ABI reveals contracts worth £2.3 billion were awarded last year to build over 4,500 new student bedrooms.
With an increase of 26% in student bedrooms being commissioned for construction, investment in the sector is showing no signs of slowing down.
Construction peaked at in the final quarter of 2015, as contracts were awarded to build 2,117 units.
The figure represents the highest total since before the recession.
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Michael Dall, lead economist at Barbour ABI, said the sector had undergone a "significant amount of change over recent years", with rental fees increasing and a "higher level of expectation" from student occupants.
"Universities and investors are behind a wave of more modern accommodation, with Wi-Fi to en-suites now becoming the norm as they attempt to attract prospecting students with high end living facilities ," he said.
"A wave of post-graduate accommodation has also come into play and I expect this to continue in 2016, as the majority of investors focused on bridging the gap for first year housing prior to 2015.
"The removal of the cap on student numbers may have also triggered many universities to anticipate an increase in enrolment over the coming years, hence the jump in the number of new student bedrooms being commissioned in 2015.
"As investor appetite remains high for student housing, I expect it will be at the forefront for many contractors over the coming years."
(LM)
