Centaline Investment launched a new student housing platform offering affordable accommodation options for Hong Kong university students, with shared triple rooms located in Tsim Sha Tsui starting at HK$6,355 per bed monthly.
The platform’s first debut property, One Pace 117, is located just a five-minute walk from Hong Kong Polytechnic University. The first batch of residents will be able to move in by August this year.
Founder and Chairman of Centaline Property Agency Shih Wing-ching stated that the emergence of student housing is a result of changes in Hong Kong’s broader environment.
He noted that as the United States has reduced quotas for Chinese students, Hong Kong may position itself as an alternative if fewer mainland students choose Western institutions.
Shih added that the education sector could provide a stable source of income for Hong Kong in the future, and establishing student accommodations is a proactive measure in line with this trend.
The company’s investment chief executive officer, Kavis Ip, indicated that there are currently about 80,000 non-local students in Hong Kong, with this number expected to continue increasing.
He predicts that the market size for student housing investment in Hong Kong will reach between HK$75 billion and HK$100 billion in the next five years.
The One Pace 117 project offers single, double, and triple rooms, with standard unit sizes ranging from approximately 223 to 302 square feet.
Monthly rents start at around HK$6,355 for beds in triple rooms, HK$9,135 for beds in double rooms, and HK$18,270 for beds in single rooms.
Applications for occupancy are now being accepted, and there are limited-time discounts available: a five percent discount on rent and a five percent discount for annual prepayment.
(Staff Reporter)
