Betting on Chinese demand, Hong Kong developers turn to rental market By Reuters

Shift in Developer Strategy: Hong Kong developers are increasingly focusing on the rental market due to a downturn in property sales and rising demand from mainland Chinese professionals and students, with rents reaching a five-year high while home prices have dropped significantly.

Growing Demand for Student Housing: The influx of mainland Chinese students and an increase in foreign student quotas have led property investors to convert various buildings into student housing, despite potential long-term rent decreases if supply increases.