“Micro-flats” in Hong Kong
“Real estate in Hong Kong defies logic. The city is one of the most expensive places in the world to live and it has smashed one real estate record after another for years. As property costs continue to soar, even once improbable living spaces are now getting snapped up at astronomical prices.
At Le Riviera, three-quarters of the units sold so far have been microflats like the one Mr. Wu purchased. And Hong Kong developers are putting smaller and smaller units on the market — one recently built 165-square-foot apartments.”