Centaline launches brand to meet housing demand from mainland students

One of Hong Kong’s largest property agencies, Centaline, is entering the student housing market, betting on growing demand from mainland Chinese students as the US has in recent years tightened student quotas for Chinese nationals.

The company on Wednesday launched CampusOne Communities, a student housing operations brand, and opened its first site in Tsim Sha Tsui near the Hong Kong Polytechnic University called One Pace 117. Monthly rents start at about HK$6,000.

Centaline founder Shih Wing-ching said Hong Kong universities could help fill certain gaps in university places in mainland China.

With the number of students expected to continue rising, and education seen as a stable source of long-term income for the city, Shih said building student housing in Hong Kong was a move in line with broader market trends.

STAFF REPORTER