Hong Kong builds dorms, sees rent hikes on influx of Chinese students

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Private equity funds have also been converting hotels to student accommodation.

Potential extra demand for as many as 3,000 units may cut the private residential vacancy rate to 3.9 per cent from 4.1 per cent as of late 2023, he said.

Rents for student housing have soared as much as 15 per cent in the past year, and JLL forecasts a shortage of 22,300 such bed spaces in three years.

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Article Details

Category: EconomyBusiness

Markets: SingaporeHong Kong

Topics: Kong Student Hong Students Property Rents Cent Year Demand Accommodation Private

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-24 @ 09:33:13 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 397 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 21758077

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