Bricks and Mortar | Mainland students renting rooms rather than flats in Hong Kong
Mainland parents shift from buying or renting flats for their children studying in the city
While higher duties on property purchases in Hong Kong have scared off affluent mainland buyers, the demand for flats for rental for their children studying in the city remains unchanged.
What is different this year is that some mainlanders prefer renting a room for their children instead of having them share the entire flat with other students. It is a clear indication their budgets have shrunk.
A property agent in Tseung Kwan O said he had handled several leases for students from the mainland.
"The rooms were for about HK$4,500 to HK$5,500 per month, inclusive of electricity and water charges," the agent said.
About 10 rooms with an area of about 50 to 55 square feet each are available for lease in Tseung Kwan O.
Given the area's proximity to the Hong Kong University of Science and Technology, demand for rental flats from the students there is expected to increase 10 to 20 per cent.
Some mainlanders prefer renting a room … It is a clear indication their budgets have shrunk
