June 16, 2017
Hong Kong apartments keep getting smaller. Henderson Land Development Co. is now creating units with just 161 square feet of space, that sell for just under $500,000.
Tiny apartments like these are becoming much more common, as housing becomes more expensive. They are forecast to make up 43% of the new Hong Kong apartments built in 2018, up from just 5% in 2010.
“The pool of buyers for small flats is getting bigger and bigger,” Nicole Wong, regional head of property research at CLSA Ltd. in Hong Kong told Bloomberg. “People have to downgrade their expectations.”
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