Hong Kong is one of the world’s least affordable housing markets. Cramped living space has been a problem in Hong Kong for a long time. Low-income earners have resorted to so-called coffin homes that are essentially just a bed space.
The sky-high property prices have made it difficult for the younger generation to own a property. Thus, developers in recent years have turned to offer smaller homes for buyers so they can afford them.
These tiny apartments are also known as nano apartments, can barely fit the basic necessities. Those apartments were less than 260 square feet (24 square meters), or smaller than two car-parking spaces.
However, most developers for nano apartments take care in designing and building small units and strives to improve living quality through clubhouses, gyms, and other leisure activities
According to the Liber Research Community, one in eight homes sold is a nano apartment which made up 13 percent of the total private housing supply in 2019.
Even though these nano apartments were smaller than 2 car-parking spaces but cost around HK$5 million ( RM 2.5 million).
You can probably own a bungalow in Malaysia with this amount of money. How lucky we are ..
Info via Bloomberg | SCMP | Fortune