Since August 2025, the Hong Kong student housing sector has been brewing beneath the surface of weak real estate sentiment following Covid and the rise of interest rates from 2022. In less than nine months as of April 2026, nine en-bloc hotel or residential properties totaling HK$4.626 billion (USD 590 million) consisting of 3,200 beds have transacted by private or global real estate investment funds, universities, as well as developers.