Forget Hong Kong’s micro flats, itsy-bitsy 72 sq ft Beijing space sells for a whopping US$384,500

If the eye-watering prices of Hong Kong’s micro apartments make heads spin, how about a dilapidated stand-alone house in a narrow alley squished on both sides and no bigger than an oversized wardrobe in Beijing. Warning: the house does not have a toilet.

A 10-minute walk from Tiananmen Square and only 400 metres from the grandiose egg-shaped National Centre for Performing Arts, a 6.7 square metre (72 square feet) property in Xicheng district was sold this month for a whopping 2.5 million yuan (US$384,500) or 373,000 yuan per sq m. By comparison the average secondary home price in China’s capital is 59,000 yuan per sq m.

For the sake of comparison, Hong Kong’s micro flats average 200 sq ft, a standard 20-foot shipping container measures 165 sq ft, while a standard UK-size car parking space is 126 sq ft. Which means this house is no bigger than an oversized wardrobe.

Originally built in 1949, the market value was reached through a court auction – the property was confiscated because of a debt dispute involving the owner.

The property auction drew interest from 49 bidders which had a starting price of 600,000 yuan, who eventually drove the price up to 2.5 million yuan, according to the court in Fengtai district, which held the auction.