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Industries & Specialties

Living

A full-lifecycle platform for maximum value
woman inside apartment
 

The living sector is evolving fast, shaped by a rapid evolution in demographic trends, lifestyle demands and investor appetite.

Hong Kong's Living sector is at a genuine inflection point. Government policy has shifted decisively to unlock build-to-rent (BTR), purpose-built student accommodation (PBSA), and co-living supply. This has created a structured opportunity for institutional investors, developers, and operators who move with conviction. We advise clients across the full asset lifecycle, from acquisition strategy and underwriting through to leasing, asset management, and exit. We combine proprietary market knowledge with on-the-ground expertise to help clients capitalize on this structural shift before it becomes consensus.

What Sets Us Apart

Full Lifecycle Expertise

We advise across the entire lifespan of Living assets in Hong Kong, from site selection and feasibility through to lease-up, management, and divestment. This end-to-end perspective ensures strategy and execution remain aligned, protecting returns across the asset's life.

Living Sector Specialists

Our team offers deep expertise in BTR , PBSA, and co-living. In a market where each sub-sector has unique regulations, this specialised knowledge is a prerequisite for success.

Data-Led, Human-Centered

We combine proprietary research and market intelligence with a focus on resident experience. Understanding both macro trends like population ageing and resident needs is key to driving durable asset performance.

Invested in Performance

Every recommendation we make is grounded in economics. Whether advising on underwriting, operational structuring, or exit timing in Hong Kong's market, we apply analytical discipline to support strong, durable returns for our clients.

Sustainability in Practice

We help clients embed sustainability into design, development, and operations. This meets institutional investor expectations for local Living assets and protects long-term value.

Services

Our Living Services

Valuation & Advisory


Every credible deal needs institutional-grade valuation. We offer financial reporting valuations, acquisition support, and feasibility studies for BTR, PBSA, and co-living assets, using proprietary data specific to Hong Kong market dynamics.

Learn more about our valuations services

Capital Markets


We connect owners, developers, and operators with institutional capital. Our team structures transactions and advises on timing in a market with growing investor appetite for residential assets.

Learn more about our capital markets services

Strategic Advisory & Consulting


We guide developers, investors, and operators through every stage of the asset lifecycle. We provide the strategic counsel needed to navigate a complex regulatory environment.

Learn more about our strategic consulting services

Project & Development Services


We help clients achieve their Living real estate goals by integrating expertise across project management, building consultancy, cost consultancy, building engineering, and sustainability. Our specialists provide end-to-end support, from design to construction, ensuring value-driven, risk-managed solutions.

Learn more about our project & development services

Research & Market Intelligence


In a rapidly evolving market, accurate data is your competitive advantage. Our dedicated research team provides proprietary analysis, forecasting, and market intelligence specific to the Living sector, empowering our clients to make informed decisions.

Specialisation

Industry Expertise

Purpose-Built Student Accommodation (PBSA)


The pipeline is growing due to rising student enrolment and government conversion schemes. We advise on site feasibility, planning, valuation, and capital structuring, helping clients enter a market where policy momentum is strong and supply is tight.

Build-to-Rent (BTR)


BTR is now becoming a reality. Projects like the Northern Metropolis and regulatory reforms are creating a new market. We help developers and investors navigate this emerging sector where the rules and returns are still being defined.

Co-Living


Co-living addresses a key gap, high housing costs and demand for flexible, managed living. We advise operators and investors on feasibility, asset positioning, and capital strategy, using our deep knowledge of the local planning and licensing environment.

Team

Tom Ko
Tom Ko

Executive Director, Head of Capital Markets, Hong Kong, Greater China
Hong Kong, Greater China

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Alvin Lau
Alvin Lau

Director
Hong Kong, Greater China

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Contact us

Research

China Residential Market Report 2023
Research • Investment / Capital Markets

China Residential Market Report 2023

Investment in real estate development for the full year 2023 dropped 9.6% y-o-y, with the growth rate improving 0.4 percentage points on the previous year, to record RMB11.1 trillion. Residential investment alone fell 9.3% y-o-y, up 0.2 percentage points from 2022, to reach RMB8.4 trillion.
 
 
 
Xiaoduan Zhang • 25/03/2024
Mainland China Hotels Report 2023
Research • Economy

Hotels — Checking Out Boutique Neighborhood Hotels In Mainland China

Since the start of 2023, people’s willingness to travel for leisure in mainland China has grown stronger, while after the Chinese New Year festival period business travel volume picked up rapidly. Both these factors have contributed to a rebound in performance in the general hotel market in mainland China. Boutique neighborhood hotels are a fairly new concept, but are expected to be increasingly favored for both leisure and business stay accommodation in the future.
 
Shaun Brodie • 19/10/2023
HK Office Retail Residential Report Q3 2023
Research • Economy

Hong Kong Office, Retail And Residential Markets Q3 2023

Supported by increased visitor spending, Hong Kong retail market sentiment continued to pick up in Q3, with total retail sales achieving HK$270.5 billion for the January to August period, up 19.3% y-o-y. Grade A office market net absorption remained negative, with overall availability rising to 17.7% prompting downward rental adjustments. In the residential market, interest rate hikes and a downward trend in the stock market continued to weigh on transactions, contributing to price declines.
Rosanna Tang • 10/10/2023
China Cross-Border Consumption Recovery Trends 2023
Research • Economy

China Cross-Border Consumption Recovery Trends

As the sustained impact of the pandemic on regular business and social activities in China has gradually subsided, intercity connectivity has returned to pre-COVID norms, and this renewal of societal engagement has been accompanied by a steady recovery in cross-border travel and consumption.
 
Xiaoduan Zhang • 31/08/2023
China International Consumption Center Retail Report 2023
Research • Economy

Stepping Up Consumption — International Consumption Centre City Retailing In China

The Chinese economy has shifted from a phase of high-speed growth to one of high-quality development, with expanding domestic demand becoming the strategic cornerstone of China’s economic development during the 14th Five-Year Plan and the following decade. Against this backdrop, China has put forward the goal of cultivating and building international consumption center cities.
 
Shaun Brodie • 21/06/2023
China Urban Environmental Sustainability Report 2023
Research • Sustainability / ESG

Urban Environmental Sustainability For Sustainable Urban Environs — Learnings From And For China

The COVID-19 pandemic has prompted a questioning of traditional ways of living, with many workers globally now operating remotely and spending a greater period of their daily routine within a few kilometers of their homes. At the same time, with our climate today transforming and changing at a rapid pace, sustainability is at the top of the agenda in terms of decisions made, how we act and what we do on a daily basis.
 
Shaun Brodie • 11/05/2023
China Infrastructure Investment Report 2022
Research • Investment / Capital Markets

Exploring China's Infrastructure Push — Accelerated Investment Plans Set To Boost Industrial Park And Cold Chain Sectors

China’s State Council announced a significant acceleration of infrastructure projects at its executive meeting held on Jan. 10, 2022. The session called on relevant bodies to push forward all major projects in key areas identified within the 14th Five-Year Plan (2021 – 2025) period, signaling a renewed impetus towards infrastructure investment. The meeting also pledged to streamline administrative procedures for ready-to-go projects to further speed up implementation.
 
Sabrina Wei • 17/03/2022
Glass office facade with tree Australia
Video • Sustainability / ESG

Webinar: Carbon Neutrality - Shifting to Neutral to Drive Real Estate Sustainability

Learn about a whole lifecycle carbon reduction plan – a road map for real estate investors/developers/landlords in China, and other considerations and what's in it for real estate investors, developers and landlords.
Shaun Brodie • 23/06/2021
jason-zhang
Insights • Investment / Capital Markets

Jason Zhang: The Growing Momentum Behind Greater China’s Outbound Investment

Despite cross-border market activity seeming calm on the surface, virtual engagement with outbound investors is frenzied with interest as high or higher than before COVID-19.
21/04/2021
Outbound Investment Report
Research • Investment / Capital Markets

2020 China Outbound Investment

In the past decade, the rise and fall of mainland Chinese investment in global real estate markets has created quite a stir amongst the international real estate community.
14/04/2020
China Green Leasing Report 2019
Research • Sustainability / ESG

Green Leasing — Greener, Cleaner And Meaner

Climate change is undeniably one of the principal threats we are faced with today, no matter where we live, work and play on this planet. The signs of climate change are clear. According to NASA, over the last 100 years, the average global temperature has increased by 1.1 degrees centigrade.
 
Shaun Brodie • 01/11/2019
China Green Real Estate Financing Report 2018
Research • Sustainability / ESG

Green Financing — Greenlighting Green Investment Into Green Real Estate

Governments, including China, are now seeking to progressively encourage green financing in their domestic marketplaces. With the expansion of green financial products and market regulation maturation, more funds are projected to be infused into green projects globally and in China.
 
Shaun Brodie • 01/10/2018
View all

FREQUENTLY ASKED QUESTIONS

Advisory spans the full asset lifecycle, from early-stage feasibility and planning strategy through to acquisition, leasing, asset management, and eventual sale. We work with institutional investors, developers, and operators. Given the specific planning framework and the pace of recent policy reform in Hong Kong, our advisory integrates regulatory intelligence with financial analysis.

Policy direction has shifted meaningfully over the past three years. Initiatives including the Northern Metropolis development, expanded student enrolment caps, and commercial-to-hostel conversion schemes have created a more structured environment for institutional investment.

The region offers a combination of structural undersupply, a highly mobile international population, and a government actively working to unlock new housing typologies. BTR, PBSA, and co-living all address genuine demand gaps. For institutional investors, this translates into credible long-term demand drivers, improving policy visibility, and increasing liquidity as the market matures in Hong Kong.

Valuing assets requires more than applying standard residential methodologies. BTR, PBSA, and co-living assets are operationally intensive, and their value is tied to income performance and operator quality. We bring institutional-grade valuation frameworks and deep familiarity with the regulatory environment to produce valuations that hold up to auditor scrutiny in Hong Kong.

PBSA currently presents the clearest near-term opportunity, given the combination of explicit government policy support, defined demand from university expansion, and a constrained existing supply base. BTR is building momentum as the Northern Metropolis project advances and institutional interest grows.

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