Betting on Chinese demand, Hong Kong developers turn to rental market

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HONG KONG: Some Hong Kong developers are now turning to housing rental and the leasing market to weather a prolonged downturn in its property market and to serve surging rental demand from mainland Chinese professionals and students.

"There is more demand for student housing now because the (foreign student) quota has increased, and also many mainland Chinese are not able to get a mortgage loan for an apartment," said Raymond Lee, real estate consultancy Savills' Greater China CEO.

A child stands by a barrier near newly built residential buildings next to Wah Fu public housing estate in Hong Kong, China, on Feb 13, 2023.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: Kong Mainland Housing Hong Demand Market Residential Rental Student Rents Property

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-28 @ 16:45:43 (4 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 739 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 22289895

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Official Website: channelnewsasia.com

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News Last Updated: 16 hours ago

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