Innovation in Hong Kong’s low-cost rental housing market may be used alleviate the challenges posed by subdivided housing units and other inadequate housing stock. As of 2022, more than 220,000 individuals were living in inadequate housing. The city has around 110,000 subdivided units (SDUs), which are mostly located in Kowloon. While many individuals and households are queuing up for public rental housing (PRH), the average waiting time is 5.6 years.

In view of that, this technical assistance panel (TAP) aims to identify alternative private-sector solutions at a monthly rental of up to $6,000, intending to shorten the PRH waiting list and provide better-quality living at low cost in the inner city.

This technical assistance panel was sponsored by Hon Kwok Land Investment Company Limited and the ULI Asia Pacific Centre for Housing. The workshop venue sponsor was CBRE. As the organizer of this TAP, ULI Hong Kong convened a panel of volunteers representing disciplines including real estate, urban planning, construction, and hotel operations. Panel members were selected who possess professional expertise relevant to the objectives of this TAP, with a special focus on low-cost rental housing.

Our report is available in English and Chinese and can be downloaded below: