For most young adults, moving out of home is a rite of passage but in Hong Kong — notorious for its chronic lack of housing — it's usually an unaffordable dream.

Silver Ho, a 26-year-old hair stylist assistant who was tired of arguing with his parents, counts himself as one of the lucky ones. Two months ago, he landed a spot at a new so-called "youth hostel," which offers rooms for young adults that are subsidized by the Hong Kong government and can be rented for up to five years.

His 22 square meter twin-bed room he'll share with another person is only a bit smaller than the public housing unit he shared with his parents.