RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Hong Kong bankers settle for dorm life as rents reach record highs

There are at least six current and pending co-living developments in Hong Kong.

A Bloomberg report notes that young finance industry workers are bunking down in dormitory-style accommodation in Hong Kong as “co-living" developments take off in the world’s priciest city for property.

An investment banker and a bank intern are among those renting rooms in an upmarket development called Mini Ocean Park Station on the south side of Hong Kong island, said marketing manager Cynthia Cheung. Elsewhere in the city, marketing manager Nicole Ho, 33, will have up to nine room-mates in her new home when another project opens, in a converted tenement block.

Stratospheric housing costs in Hong Kong are giving a push in the city to a trend taking off around the world as young people from New York to London to Shanghai struggle with elevated home prices, the report noted.

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