Foreign, mainland students flock to Hong Kong sparking property demand in education sector
Hong Kong’s bid to become a global education hub is likely to transform the sector as a sustainable source of property demand, with the city tipped to see around 200,000 non-local students by 2035, according to CBRE. The city’s international schools are estimated to require enormous additional real estate to accommodate nearly 30,000 to 40,000 non-local students, as the institutions would need to…
Hong Kong is on track to become a global education hub, with the city set to host around 200,000 non-local students by 2035, according to consultancy CBRE. International schools in the city could require an additional 40 to 50 new campuses and up to 1.11 million square meters of space, according to a CBRE study. Universities may need to expand their academic space by 1.39 million to 2.14 million square meters, while student accommodation would need over 70,000 additional beds.
Marcos Chan, executive director and head of research at CBRE Hong Kong, said the education sector is undergoing a structural transformation driven by non-local students and talent migration. The government, alongside initiatives to attract wealthy immigrants and professionals, is supporting the expansion. Mainland Chinese students are expected to be the main source of inflow, given geopolitical concerns over studying in the West.
Hong Kong's universities rank highly in various global and Asian rankings. Investors see the future requirements of the education sector as a significant opportunity, as retail malls struggle in the city's retail sector recovery.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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