It is probably one of the most unreliable acquisitions you will make in your lifetime. It will cost you up to HK$2 million at today's rates and there is no guarantee of any return whatsoever. Yet, it is a risk most people are willing to take - despite the fact the price is rising every year.
According to Bruno Lee Kam-wing, HSBC's Asia-Pacific head of wealth management, funding your child through university can easily amount to about HK$500,000 per year if they opt to go overseas. Take into account that most courses last about three to four years and it can add up to a staggering HK$2 million.
'And that's just a ballpark figure,' Lee said. 'In some universities that would pay just the tuition fees and you would need to double that figure.'
Even if your child chooses to study in Hong Kong, without any financial assistance from the government, fees at today's rates are about HK$40,000 a year. Factor in the cost of living, books, entertainment and other expenses, and you are easily looking at about HK$100,000 a year - the equivalent of two months' salary for the average family.
It is a figure which is getting bigger every year. In Britain, where overseas students contribute 8 per cent of all university income, fees for overseas students rose 5 per cent over the past year and between 30 and 50 per cent over the past decade. The current average stands at about HK$115,000 for most universities, according to the Universities UK group.
The price is even higher, reaching up to HK$250,000 per year, for a place at one of the more elite universities such as Imperial College.
There are scholarships, but these are few and far between. No wonder higher education costs are one of the biggest worries for parents.