• Sat
  • Sep 20, 2014
  • Updated: 8:09am
NewsHong Kong
PROPERTY

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

PUBLISHED : Friday, 11 July, 2014, 11:39pm
UPDATED : Saturday, 12 July, 2014, 2:38am

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.

"However, leasing transactions increase to over 100 a month from June to August.

"More than half of the tenants are mainland students. They have to rent a flat before the academic year at the universities begins."

Liu Zhanxiang, a mainlander newly graduated from Chinese University, said: "Tai Po is close to the university. I think many mainland students would be interested in the flats. But the flat size is only 177 sq ft. It's too small for me."

Veteran residential investor Chan Ching-pak is not interested in the project. "It would be difficult to find tenants when the project is completed - and it is not located in the urban area. You have to ask for a lower rent to attract tenants.

"I don't think the monthly rent of the flats can reach HK$5,300 or HK$30 per sq ft," he said, adding that small flats in urban areas such as Causeway Bay and Wan Chai were more popular in the leasing market.

Chan added: "It may be difficult to resell the flats. They are too small. No one would pay a large amount to buy a tiny flat."

An architect, who declined to be identified, believes the developer is trying to both maximise the floor area and comply with the Buildings Ordinance.

He said: "They may not be able to offer one-bedroom flats based on the building layout.

"Another possible reason is that it is a marketing strategy. It is easy to catch the market's attention with an asking price of less than HK$2 million."

 

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26

This article is now closed to comments

impala
Looking at the map of the cell-flat again, I am more and more fascinated by the kitchen.

It has a sink. And that is about it. I wonder if there is a fridge built in on the opposite side. Probably there is, because a kitchen without a fridge is hard to imagine, especially in Hong Kong with its sweltering summers.

Yet, that would mean there is absolutely no space for a stove anymore, meaning that this is a kitchen in which you can't even fry an egg or boil some water for your instant noodles.

Last year, the Chief Nitwit promised us 470,000 new flats over a decade. Let's hope they won't all be like this.
johnyuan
To imp....
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Your focus is valuable. The undersized kitchen is useless. I don't think it has even elbow room at the sink especially for anyone more than 5 feet tall.
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Here, I have revised my previous posting in response to yours:
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I would also recommend LKS to study a plan of my design which is also 16 ft frontage with 20 ft depth including a 2 ft deep balcony. It has besides a full functioning kitchen (sink, stove and fridge) and a bathroom (tub etc) there are three distinctive areas for sleeping with closet, living/dinning and a balcony for maximum natural ventilation. Plumbings are enclosed. It was a plan for the elderly and published in the SPACE magazine – vol 10 Oct 99 in Hong Kong.
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PS I welcome any developers to feel free to use my design without compensation for me.
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virokick
How about quickly developed those new towns in the North Eastern New Territories. Limit the purchases to locals and 60% public housing. Also, most importantly guillotine law makers who represent the Property Developers- Abraham Razack Shxt. Than develop 200sqft flats to place all these property developer criminals inside.
Oh yes- if these 200 sqft cubicles are really developed - it can be used as a temporary prison cell for those arrested for social disobedience.
HK-Explorer
So today we are talking about 177 sq feet and every year apartments in Hong Kong get smaller. Those with the $$$ should buy one of these apartments ASAP because 5 years from now these will be considered large aparments. An architect will come out with a bed size dwelling where the bed transforms into a kitchen / toilet.
Writing above I started off trying to make a joke but I think they actually may do it. Press a button and mattress flies up to a small kitchen at one side with a toilet at the other. Just need to work out how to take a shower without getting the mattress wet. I guess they will just have communal changing rooms like gyms have and all your cloths etc.. Will be stored in a locker.
L.L.
First the architect and government are CRAZY-MAN, they waste the money, time, energie to build this cave room again and again, i will fired this architect, did he know u are making a cave living for a beast! Are we human no more worthy than a dog, beast, animimal life? How can u get u licence to be a architect? I know one thing, will u self living there as home, will u doing for me, ARCHITECT MEN! And pay hypotheek of 2 million-hkd??? Well, will U??? I will tell u, u heart are evil, u mind are damage, u soul are gone, u life is nothing than a zombie life, sad sad sad MR. ARCHITECT MAN!!! SHAME U!!! Second, throw this plan now in the garbage immediately, or make it bigger than for one person min. 40-m2 (square metre) LxB = 10 meter long x 4 meter broad, that is a normale living home for a human, not a beast! Mijn home are 100 m2 square metre, oke, that call home, not cave, BEAST-GORVERMENT!!! It's time to used u mind instead, money greedy! Third, if u really want to help, stop CN people to come to HK living, why are u so afraid to tell CN, we don't have place for u people, cause our ground is only 1104 km2 big, not like CN 9.596.961 km², foolish HK government! u kill u own ground, citizen, to make a **** living for who? u create a more crime, sick, hooker, gamble, damage people, who destroy the future of HK! WHY? Are u lost u mind?! Think think think, foolish gorvernment :( ... ... Freedom of speech...
mrheh
ngsw - I like your wit!! :-)
Lucky I don't meet the 5 criteria; so don't have to tick either of the two remaining boxes. But many people should & will tick both boxes.
Incidentally SCMP is incorrect- the smallest public housing flats for one/two people which these flats try to emulate have rental below $1,000 per month.
nmp_inc
This is the prosperity that 'patriots ruling Hong Kong' has brought. Is really any reason why people are in the streets more and more?
msfhk2010
J
johnyuan
This 177 sq ft is barely twice the area of a single cell prison. No one in normal circumstance would choose it as a daily living quarter. It is just a little more than half of 300 sq ft studio that New York City is building for its young graduates.
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In subtracting the areas for the kitchen, bathroom and the bed there is about 90 square ft free area left. In that area we must include a coffee/dining table, a closet, a desk with chair all must occupy a footprint within the unit. Access circulation to kitchen and bathroom also would take up room. I foresee whatever space left the unit would be cluttered up with possessions even with the bed doubles up as storage.
.
If such a plan is to go ahead, I advise the architect to relocate the entrance door near to the bathroom. It will reduce the amount of circulation space and allows the bed turn 90 degree to free up an area with more usable space in a contiguous rectangular area.
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Further improvement can be made to reduce the construction cost by keeping the exterior wall to the minimum. Reconfigure the plan to become a rectangular shape by maintaining the 16 feet frontage and adjust the depth of the unit to 11 ft. Use mechanical ventilation for the bathroom. Here we should innovate and ask for deductable area for enclosed plumbing area. Hong Kong should not subject the risk of spread of SARS because of leaking plumbing installed outdoor next to open windows.
johnyuan
To Dislike,
.
What do you dislike about -- my name?
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