HONG KONG--(BUSINESS WIRE)--Survey results on manpower demands in the property management industry in Hong Kong from 2016 to 2025 and social impact of the “Property Management Services Ordinance” (the “Ordinance”) passed by the Legislative Council in May 2016 were released today. The survey was commissioned by The Hong Kong Association of Property Management Companies (HKAPMC), Chartered Institute of Housing Asian Pacific Branch (CIH APB), The Hong Kong Institute of Housing (HKIH) and Housing Managers Registration Board (HMRB).
The survey focused on how to match qualified property management professionals and practitioners with the forthcoming supply of property, including private and public residential, commercial, industrial, government, institutional and community units. Based on evaluation of the current conditions and new supply according to the Hong Kong SAR Government’s “Long Term Housing Strategy”, the survey concluded that there would be a need to increase managerial manpower by 525 professional property managers and 1,289 property management officers. An additional 165 staff members are needed to replace those who have changed jobs or retired. Together, a total of 1,979 new property management professionals are needed by 2025.
Mr Andrew Lee, President of HKAPMC, said, “With the Government’s ‘Long Term Housing Strategy’ and the soon-to-be-established Licensing System, the four professional bodies believe the demand for managerial staff and officer staff will rise sharply in the future. Meanwhile, the Licensing System will surely promote recognition of high-quality professional service while ensuring better protection for property owners.”
The results highlight the need to increase managerial and officer manpower in the industry according to HKAPMC member companies. The survey offers proprietary information about the number of staff members needed per 1,000 units of housing or 100,000 square metres of space:
|Managerial Manpower||Officer Manpower|
|Public Housing||Managed by Housing Authority||1.78 staff/ 1,000 units||Managed by Housing Authority||4.41 staff/ 1,000 units|
|Managed by Housing Society||0.56 staff/ 1,000 units||Managed by Housing Society||2.78 staff/ 1,000 units|
|Managed by private management companies||0.59 staff/ 1,000 units||Managed by private management companies||1.24 staff/ 1,000 units|
|Private Housing||0.95 staff/ 1,000 units||1.67 staff/ 1,000 units|
|Private Office||2.26 staff/ 100,000 m2||4.47 staff/ 100,000 m2|
|Retail premises||4.38 staff/ 100,000 m2||11.38 staff/ 100,000 m2|
|Industrial Buildings||0.42 staff/ 100,000 m2||0.73 staff/ 100,000 m2|
|GIC Properties||1.40 staff/ 100,000 m2||3.15 staff/ 100,000 m2|
Mr Kenny Chow, Deputy Chairman of CIH Asian Pacific Branch, said, “We hope the survey data can serve as benchmark references for owners and property management companies while planning for future staffing.
“The four professional bodies still stress the importance of service quality of the profession amid the number of staff indicated. With the implementation of the Licensing System, we are sure to see an increase in professionalism and more transparency in work and staff performance.”
Dr Johnnie Chan, BBS, JP, President of The Hong Kong Institute of Housing, said, “Housing managers have been registering with the HMRB on a voluntary basis for over a decade as a form of self-governance.
“As of today, there are more than 1,300 registered housing managers in Hong Kong. The new Licensing System will further promote transparency in the industry and recognition of the profession.”
Property management is a sustainable industry, and therefore the four professional bodies are hoping for more devoted people to join the industry in the long run. With a proper governing body and Licensing System in place, the improved professional image of the industry will provide a profoundly positive impact on new professionals joining the industry as well as the community as a whole.
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About Hong Kong Association of Property Management Companies
The Hong Kong Association of Property Management Companies, Limited (the Association) was founded in January 1990 with the aim of maintaining the standards of professional property management, and to provide its members with the benefit of a representative negotiating body in discussions with government or other bodies relating to the interests, rights, powers and privileges of the members, or other matters of common interest. The Association promotes continuing education to its members and other interested parties, to cooperate with similar organisations to uplift the service standards, while establishing the Technical Representative Scheme to safeguard the owners and public interests. The Association has 95 members who provide quality service for over 70% of the resident units, various commercial buildings, car parks, and private and government facilities in Hong Kong among those that hire property management companies.
About Chartered Institute of Housing Asian Pacific Branch
The Chartered Institute of Housing Asian Pacific Branch, is the professional organisation for people working in housing. With its headquarters in United Kingdom, it plays a leading role in setting standards in policy formulation, training and education and professional development in housing management. The Asian Pacific Branch acts as the overseas representative office of the Institute.
About The Hong Kong Institute of Housing
The Hong Kong Institute of Housing (HKIH) was first incorporated in Hong Kong on 29 November 1988. HKIH is the professional body in Hong Kong for those who are engaged in providing advice on housing policy and legislation to the SAR Government, and professional training courses in housing design, supply, improvement, management and administrative duties for all categories of housing. HKIH currently has over 3,000 members who are responsible for the management of no less than 70% of all housing stock in Hong Kong. Members of HKIH are mainly employees of public organizations, property developers and various property management companies in Hong Kong. For more information about HKIH, please visit: http://www.housing.org.hk/
About Housing Managers Registration Board
To provide for the registration of professional housing managers and the disciplinary control of their professional activities and related matters, the Housing Managers Registration Ordinance was enacted on 26 November 1999. In order to perform the functions specified in the Ordinance, the Housing Managers Registration Board was established with effect from 1 April 2000.