A 121 square foot public housing ‘studio’ flat sells for record HK$1.93 million
The tiny flat is in the 29-year-old, publicly-owned Oi Wo House on Tai Po’s Tai Wo Estate
Tiny public housing units in Hong Kong, known locally as “nano flats,” are selling like hot cakes despite record high prices, as the city continues to struggle to create enough affordable housing.
And although some of these homes are smaller than a car parking space – less than 135 square feet – agents warn prices are set to rise even higher, due to limited supply.
Examples of some of the crazy prices being paid for tiny spaces in the city include a 121-square-foot studio unit in the 29-year-old publicly-owned Oi Wo House on Tai Po’s Tai Wo Estate, which sold for HK$1.93 million (US$247,435), or about HK$15,950 per square foot.
The per-square-foot price of the nano flat broke the previous record set by a transaction at the private Tak Tin Estate in Lam Tin, where a home was sold at HK$15,890 per sq ft last September.
New flats at the luxury Double Cove in Ma On Shan, for example, are being offered by Henderson Land Development on the private market at roughly the same price – new prices per sq ft there start at HK$16,000.