Hong Kong Government Projects Significant Rise in Non-Local Student Housing Demand
The South China Morning Post reports that the government's latest Long Term Housing Strategy progress report projects annual demand for non-local student housing to reach 2,310 flats over the coming decade, marking a 45 per cent increase compared to the previous year's projection.
Based on reporting by South China Morning Post:
According to the Long Term Housing Strategy progress report, which was released on Monday, the government anticipates that the yearly demand for housing for students who are not local to Hong Kong will be 2,310 flats over the next ten years. This figure represents a 45 per cent increase when compared to the estimate provided in the previous year.
The Housing Bureau determined this projection by using an average annual rise of approximately 7,100 student visas spanning the period from 2016-17 to 2025-26. The report also noted that around 65 per cent of these students do not reside in university-offered halls or hostels.
Authorities in Hong Kong are currently receiving requests to enhance the share of private housing within specific districts and to collaborate more closely with developers to increase the available accommodation for non-local students.