Rise of the 215 sq ft home as Hong Kong price boom squeezes buyers
Developers are building more micro-flats in the city and fewer apartments of 735 sq ft and above – and the trend is likely to continue
Developers in Hong Kong have built more micro-flats – 215 sq ft or below – in the past four years than any other sized homes, according to official figures, and the trend is likely to continue.
The number of private flats under 215 sq ft catapulted from 81 in 2013 to 206 last year, according to the Rating and Valuation Department – an increase of 154 per cent. No flats of that size were built in 2012.
The number of flats ranging from 215 to 429 sq ft shot up 147 per cent from 1,511 in 2012 to 3,731 last year. Medium-sized flats, 429 to 752 sq ft, increased by 59 per cent.
In contrast, there was an 18 per cent drop in apartments measuring between 735 and 1,075 sq ft, and 27 per cent fewer flats of between 1,076 and 1,721 sq ft in the same period.
Analysts say a key reason for developers downsizing is the issue of affordability amid a perennial shortage of living space and strong demand to get on the housing ladder.