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April 24, 2018 Local developers are building more tiny apartments smaller than 19 sq m per unit According to data released by the Buildings Department, in Sham Shui Po, Kowloon City and Tin Shui Wai, 15% of the 3,300 apartment units in six projects approved for construction will be smaller than 200 sq ft (18.6 sq m) in usable area. Local real estate developers are building tiny flats for first-time buyers due to the soaring property price in Hong Kong. According to recent news report, a local developer plans to build a 27-storey residential block, with the smallest unit having a usable area of 123 sq ft in Sham Shui Po.
The Secretary for Transport and Housing Frank Chan Fan has ruled out imposing a minimum size on private flats being built in the city, saying aspiring homebuyers might not be able to afford larger homes, given skyrocketing property prices. In 2017, 691 micro flats were available on the market, over eight times more than 2015's 79 flats, while smaller flats between 215 and 430 sq ft soared to 6,200 last year from 2,056 in 2015. The government forecast that 6,852 private flats smaller than 430 sq ft will be completed this year, accounting for about 38% of the overall supply of 18,130 private flats. The projections of Hong Kong’s future land need are being severely underestimated, experts warn ahead of a public consultation exercise on land sourcing options started on April 26. The government’s land supply task force will consult the preferred options to identify at least 1,200 hectares of land – equivalent to 342 Taikoo Shing estates – to address the city’s housing shortage and drive economic development in the next three decades. Task force members note factors that were not considered include the need for health care facilities for the ageing population and flats to attract foreign talent.
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