Thursday, September 23, 2021
Even smaller than a parking lot
Hong Kong is building mini-apartments
Hong Kong is notorious for extremely high rents and very small apartments. Apartments are now being built in the financial metropolis that are tiny even by local standards.
Nano-apartments are completely normal in Hong Kong. But now apartments are planned in the densely populated 7.5 million city, the size of which can hardly be undercut. As reported by the financial news portal “Bloomberg”, a real estate company wants to build apartments there that are roughly the size of two double beds.
Hong Kong’s leading developer Sun Hun Kai Properties is planning to build 5,400 apartments in the New Territories. Two of them are only 8.2 square meters. More than 200 have an area of 12.1 square meters and are therefore roughly the size of a parking lot. Most of the apartments have an area of 26.2 square meters.
In Hong Kong, in view of the dizzying prices, it is becoming more and more difficult for normal earners to afford an apartment. This is why tenants or buyers can easily be found even for so-called nano apartments – they are no more than around 24 square meters in size. These are usually one-room apartments with an open kitchen and a windowless bathroom. On average, apartments in Hong Kong cost around 1 million euros, which corresponds to around 18,200 euros per square meter.
For some Hong Kong residents, however, money doesn’t matter. In June, a 12.5 square meter parking lot was sold as part of an apartment complex in a luxury district also known as “The Peak” – for the equivalent of just over a million euros.