Market Chatter: Chinese Students Help Buoy Hong Kong Commercial Property Sector

MT Newswires Live12-19

Hong Kong's struggling commercial property market is getting a boost from the increasing number of mainland Chinese students in the city, Bloomberg News reported Thursday.

Colleges are using vacant office spaces for classrooms, while investors are spending on dormitories for Chinese students to rent, the report said.

Hong Kong's educational sector accounted for 12% of new office space rentals, falling in third behind the finance and professional services sectors, the report said.

The education business is "massive," with classrooms, dormitories, and other educational facilities facing undersupply, the report said, citing Jones Lang LaSalle Hong Kong Chairman Joseph Tsang.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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