Big interest expected in small flats at Fung Yuen, Tai Po
New homes in Fung Yuen, under 200 sq ft and less than HK$2m, are due on sale this month
Tiny flats on offer at Cheung Kong's Mont Vert in Tai Po are set to cause a big impact among investors and first-time buyers.
The 1,071-unit project in Fung Yuen offers 196 flats with sizes of less than 200 sq ft.
The smallest have a saleable area of only 177 sq ft, with 97 sq ft living rooms, 13 sq ft kitchens and 31 sq ft washrooms.
It makes them similar to typical public housing studio flats, which have monthly rents of HK$1,200. They are also bigger than flats at Henderson Land's High Place in Kowloon City, which launched in September with a saleable area of 166 sq ft. Cheung Kong plans to launch Mont Vert this month, and property agents expect prices will be more than HK$1.7 million, or HK$10,000 per sq ft.
Anthony Man, a district manager at Centaline Property Agency, said: "The market response will depend on asking prices. But many people are interested in the project.
"The demand for small flats in Tai Po from end-users has been very strong in recent months."
Man added: "The leasing market in Tai Po usually records 40 to 60 deals a month.