Affordable Co-Living Spaces for Young People

Introduction

Hong Kong's high rental prices make it extremely difficult for young professionals and fresh graduates to find affordable housing. Many are forced to live with their families or rent expensive, subpar apartments. To address this, the government should develop affordable co-living spaces in Kwun Tong, a district that has rapidly transformed into a business and innovation hub. By repurposing underutilized industrial buildings and implementing government-backed rent subsidies, this initiative can provide young professionals with low-cost, high-quality housing in a vibrant urban environment.

Why Kwun Tong?

Kwun Tong is an ideal location for a co-living project due to its accessibility, growing business sector, and underutilized spaces. Over the past decade, Kwun Tong has evolved into a key commercial district with numerous office towers, creative industries, and tech startups. However, despite its economic growth, affordable housing remains scarce in the area. Many industrial buildings in Kwun Tong are either vacant or underused, presenting a prime opportunity for conversion into residential spaces. Additionally, Kwun Tong is well-connected to major transport hubs, with MTR access, bus routes, and ferry services, making it a convenient location for young professionals working across different parts of the city.

Affordability & Rent Structure

To ensure accessibility, the government should subsidize 30-40% of the rent, making the co-living spaces significantly cheaper than regular private apartments in Kwun Tong.

• Projected monthly rent (after subsidy): HK$3,500 - HK$5,500 per room
• Current private apartment rent in Kwun Tong: HK$10,000+ per month
• Utilities (electricity, water, internet) included in rent to simplify tenant expenses.

This rental structure makes the space affordable while maintaining high living standards. Young professionals can save more, reducing financial stress while enjoying a quality living environment.

Who Can Apply?

The co-living project should be designed for:

• Young professionals & fresh graduates (ages 18-35)
• Freelancers & remote workers who need an affordable urban base
• Individuals earning below HK$25,000 per month
• Applicants who do not own property in Hong Kong

Conclusion

Repurposing vacant industrial buildings in Kwun Tong into government-backed co-living spaces presents a practical and forward-thinking solution to Hong Kong’s housing crisis. This initiative not only provides young professionals with affordable and well-designed living spaces, but also contributes to the revitalization of Kwun Tong’s urban landscape.

With the right planning and execution, this project has the potential to become a long-term housing model for young people in Hong Kong. Now is the time for policymakers to take action and invest in a housing solution that truly meets the needs of the city’s younger generation.