〈The Standard, Sep 7, 2024〉Rents in Australia have surged since the Covid-19 pandemic, with Perth's rents over 70 percent higher than in March 2020 due to smaller household sizes and rising construction costs.
The median weekly rent for apartments across state and territory capital cities rose by 40 percent from A$450 (HK$2,298) to A$630 as of the second quarter this year, according to Domain, an Australian property services company.
Rents in Sydney increased 38.5 percent to A$720 per week, Melbourne rose by 27.9 percent to A$550 and Brisbane by 53.8 percent to A$600. Rents in Perth surged the most, rising 71.9 percent to A$550 per week, Domain figures show.
〈Hong Kong Business, Sep 6, 2024〉Crystal Investment’s asset management subsidiary, Y.X. acquired two buildings in Kowloon, including Y36, a private student accommodation complex along San Lau Street in Hung Hom.
Y36, a former residential building completed in 2020, features 51 rooms with 82 bed spaces, each equipped with an open kitchen, private bathroom, and internet access.
The accommodation has seven co-living spaces spanning over 4,000 sq ft, including a shared kitchen, laundry room, coworking space and study areas, common room, outdoor terrace, gym, and rooftop garden.
〈Asian Post, Sep 5, 2024〉Student housing is expected to fall short by 120,000 beds by 2028, according to Colliers.
Colliers predicted that even with hostel development fund (HDF) sponsorship, the total supply of student accommodation—comprising beds from both private operators, UGC and non-UGC institutions—is projected to around 55,000 in 2028. If 25% of local full-time students and 100% of non-local fulltime students in post-secondary programs require accommodation, demand is expected to reach 175,000 by 2028, resulting in a shortfall.
The demand from non-local students and the population increase driven by the government’s various talent initiatives has pushed private residential rents by 7.5% since Q1 2023.
〈Hong Kong Business, Sep 4, 2024〉The private domestic rental index for Class A, B, and C units rose by 6.9% year-on-year (YoY) in July 2024, its highest since 2019, according to JLL's latest Residential Market Monitor.
The rental index for Class A and B (sized between 431 and 752 square feet) units increased 6.9% and 7.3% YoY respectively whilst Class C units had a steady 6.3% YoY increase.
Between June 2023 and June 2024, the average domestic household size decreased from 2.7 to 2.6 individuals, contributing to a 1.5% YoY rise in the number of households to 2.76 million, thereby increasing tenant-to-owner-occupier ratio.
〈RTHK , Sep 3, 2024〉Financial Secretary Paul Chan said the new Kai Tak Sports Park, which is slated to open in the first half of next year, would become an international spotlight that connects people, cultures and possibilities.
"Let us regard the Kai Tak Sports Park not just a collection of facilities but as a vibrant theatre that connects people, places, cultures and possibilities," Chan said at a summit on Hong Kong sports development and tourism.
"We envision this new landmark to become an international spotlight and a popular destination for events, offering unparalleled experiences," he added.
The finance chief said it was essential to ensure future events and programmes at the sports park would cater to the needs and interests of both local residents and international visitors.
