Hong Kong builder says it draws the line at 200 square feet, even if demand swells for micro flats

While micro flats are all the rage with Hong Kong developers chasing higher average selling prices, Chinachem Group is adamant in sticking to a no micro apartment investment strategy.

“We have no tiny flats of less than 200 sq ft in our portfolio,” said group chief executive officer Donald Choi.

“Providing a healthy living environment at reasonable prices is our focus,” said Choi, who joined Chinachem in January after 18 years at rival developer Nan Fung Development, where he last held the position of managing director. 

With the market currently focused on building micro flats – units with saleable areas of below 200 sq ft – to cater for young single buyers, he said he would expect to see a short supply of mid-sized apartments in the coming years.

“Once these young buyers got married, they will see the need to upgrade to bigger flats. If the market shifted to build micro flats, it will help drive up prices for mid-sized flats, assuming that demand exceeded supply in future,” he said.

Chinachem, with 70 investment projects across residential, office, retail and hotel sectors, says its sales projects pipeline will be dominated by larger-sized units. Its flagship project includes a luxury residential development, The Lily, in Repulse Bay.