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Hong Kong real estate developer builds new super micro condos smaller than a parking space

Ends up selling only two of its 73 units.

Hong Kong some of the most expensive housing prices in the world. With highly-priced apartments that are incredibly cramped, it is no small wonder that they’re sometimes referred to as nano flats, capsule homes or micro apartments.

Such abodes may only be the spatial equivalent of a 134-square foot (12.4-square meter) parking space and can easily cost upwards of three million Hong Kong dollars (US$382,00). Yet despite the rooms resembling little more than cages, demand for them is at an all-time high.

▼ Here is an example of how they might look like.

Think your apartment is small? Check out these super-tiny Hong Kong houses. http://t.co/eXnp0DHsMZ pic.twitter.com/RpOtwNHKpn

— Fast Co. Impact (@FastCoImpact) May 8, 2014

But one real estate developer designed even smaller for-sale condominium units, called the T-Plus. Measuring 128 square feet and priced at 2.85 million Hong Kong dollars, the student hostel-inspired units each would have a kitchen, space for storage, and toilet, and come furnished with a refrigerator, bed and dining table.

▼ Occupants would have barely enough room to stretch out.

How small can a Hong Kong apartment go?

This unit is 128 square feet, which is SMALLER than a parking space https://t.co/Ktq39U4EKI pic.twitter.com/jYf4LctBAc

— Jacky Wong (@jackycwong) November 28, 2018

▼ It may look gorgeous, but it is still really small.

The cheapest unit in the abovementioned T-Plus project (124 sq ft) is 2.85 mn HKD (360000 USD). Thus, the price per sq ft in USD amounts to 2903 USD(!) Hong Kong has become one of the least affordable real estate markets globally which is why tiny flats have become en vogue. 2/n pic.twitter.com/KxCJgiuITE

— André Dragosch | Bitcoin & Macro ⚡ (@Andre_Dragosch) January 22, 2019

The developer hoped to sell all of its 73 micro flats located in Hong Kong’s Tuen Mun district in December last year, but their tiny dimensions failed to attract buyers. Only two of the nano condos were sold, which caused the sales launch to close early.

Granted, there are cheaper rental alternatives in Hong Kong, but no one wants to live in a bathroom for all of eternity. Still, even though pricing for the T-Plus was close to what was offered on the market — the cheapest available option for for-sale new homes on the market, in fact — perhaps the disappointing sales marked what the public thinks is the limit of comfortable housing.

Sources: Oddity Central, South China Morning Post
Featured image: Twitter/@jackycwong

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