Core Viewpoint - Several universities in China are purchasing or renting existing properties to address student dormitory shortages, which also helps to revitalize the surrounding real estate market [2][3][8] Group 1: University Initiatives - China University of Mining and Technology plans to invest 293 million yuan to purchase existing real estate for student dormitories [2] - Hubei University was the first to acquire existing properties for student housing, purchasing 352 units for nearly 200 million yuan, adding 2800 new beds [4][5] - Other universities, including Central South University and Hefei University of Technology, have also announced similar procurement plans [2][6] Group 2: Benefits of Property Acquisition - Acquiring or renting existing properties is seen as a dual benefit, improving student living conditions while helping to reduce excess inventory in the real estate market [3][8] - The average acquisition price for Hubei University's project was approximately 4653 yuan per square meter, significantly lower than previous market rates [6] Group 3: Challenges and Considerations - Universities face challenges such as limited available land for new construction and the need for properties to meet specific safety and management standards [9][10] - The success of these initiatives depends on understanding student needs and ensuring that the acquired properties are suitable for dormitory use [10][11] Group 4: Broader Implications - The trend of universities acquiring or renting existing properties may lead to further development of off-campus housing solutions [10] - Government support and streamlined processes are essential for facilitating the conversion of existing properties for educational use [11][12]