Investment in Asia-Pacific’s living sectors has surged, nearly tripling over the past decade to reach US$21b by 2025, according to Knight Frank’s latest report. The report identifies student accommodation, co-living, and build-to-rent as key growth areas, driven by operational investment and adaptive reuse strategies to address supply shortages.
Despite housing 60% of the global population, the region attracted just 12% of global living-sector capital in 2025, highlighting a significant investment gap. Knight Frank’s analysis reveals unmet demand for professionally managed rental housing in major cities like Seoul, Singapore, and Hong Kong, presenting long-term opportunities for investors.
In Singapore, the co-living market is gaining traction due to tight housing supply and regulatory clarity. Knight Frank projects the sector could support 35,000 to 40,000 keys by 2028. Meanwhile, Hong Kong faces a projected shortfall of 137,000 student beds by 2028/29, prompting hotel-to-student accommodation conversions.
Australia’s build-to-rent sector is expanding, with over 16,000 completed flats and more under construction. The sector’s growth is bolstered by international and local investment, including Australian super funds.
India’s student housing sector is emerging as a significant opportunity, with a growing youth population and rising university participation. Knight Frank estimates that 12 million students may require accommodation by 2035.
James Mannix of Knight Frank notes, “Asia-Pacific offers expanding opportunities across living sectors, with investors combining capital with local partnerships and expertise.” Dan Dixon adds that supply-demand imbalances will continue to drive growth in co-living, build-to-rent, and student accommodation sectors.
