High-end 'micro-flats' latest trend for Hong Kong home buyers
Published on Aug 10, 2014 1:32 PM
HONG KONG (AFP) - At a glitzy show stall for a new residential development in Hong Kong, property agents with loudspeakers are promoting the latest trend in the overcrowded city - high-end "micro-flats" which still come with an eye-watering price tag.
Hong Kong's poorest residents are used to making their homes in cramped accommodation, but now developers are touting minuscule upmarket apartments to reel in young middle-class buyers.
Although they are part of swish modern complexes, some of the newly-built studio flats measure as little as 16 square metres (177 square feet) and are on sale for HK$1.5 million (S$242,355).
Single entrepreneur Mike Ko is typical of the buyers that developers are targeting: aspiring home owners who are priced out of the overheated Hong Kong housing market.
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