‘Studying in Hong Kong’ brand to boost demand for student housing

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Chief executive pledges to turn Hong Kong into an international hub for postsecondary education, earmarks over 80 hectares of land for university town

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General view of The Chinese University of Hong Kong. Chief Executive John Lee has pledged to turn the city into an international hub for postsecondary education. Photo: Yik Yeung-man

Cheryl Arcibal

Published: 2:14pm, 16 Oct 2024Updated: 2:59pm, 16 Oct 2024

Student housing in Hong Kong is likely to become a major property segment with demand estimated to exceed more than three times the projected supply by 2028, according to analysts.

Chief Executive John Lee Ka-chiu in his policy address on Wednesday cited “Studying in Hong Kong” as one of the government’s initiatives to turn the city into an international hub for postsecondary education.

Lee also revealed plans for the development of Northern Metropolis University Town, expanding the area to 80 hectares (198 acres) from the previous 60 hectares allotted for the project. The development conceptual framework for the town will be published in the first half of 2026

Hong Kong’s leader also unveiled measures to increase the supply of student accommodation, encouraging the private sector to convert hotels and commercial buildings through self-financing and private initiatives.

WATCH LIVE: Hong Kong leader John Lee’s 2024 policy address

“As Hong Kong continues to develop as an international education hub, we expect the number of non-local students to keep rising,” said Kathy Lee, head of research at Colliers. “We recommend that the government carefully assess land-use allocation and planning permissions in these areas to ensure there is sufficient housing for the anticipated influx of students and professionals.”

The planned relaxation of the approval process for conversion of buildings is “also expected to stimulate market supply, reducing the current shortage and driving the growth of this emerging market”.