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.
“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”.
