'Prison-cell' flats show limits of housing policy
Hong Kong
SOMETIME later this year, Hong Kongers may be able to pay for the privilege of living in apartments so small they're comparable to prison cells.
Then, a local developer is due to start signing tenants for a project in the Happy Valley district where most flats could have a "useable floor area" of about 61 sq ft, or 5.7 sq m, according to a pre-construction filing with the Buildings Department.
That's slightly less space than Stanley Prison, a 30-minute drive across the Hong Kong island, affords its inmates.
Cramped living spaces in the world's major cities are nothing new. But few places have reached such extremes as Hong Kong, where housing affordability has become a defining political issue two decades after its handover to China. Among the array…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
London mansions sold at 30% discount spell gloom for luxury market
Delfi Orchard up for collective sale at S$438 million guide price
US existing home sales drop in March; median price increases
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty
Freddie Mac seeks regulatory approval to back home-equity loans