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New York

Could you live in an apartment the size of a parking spot?

Nano apartments are taking off in Hong Kong

(U.S. Navy photo, front; Pixabay, ,back)
(U.S. Navy photo, front; Pixabay, ,back)

Hong Kong “nano” apartments are taking off. Production of the 200-square-foot (or less) apartments are projected to skyrocket between now and 2020, according to a JLL report. Some of the smallest nano units are tinier than a parking space.

With no limit on size for housing, and amid soaring prices in the city, many first-time buyers are opting for a nano unit that, though small, is increasingly outfitted with luxurious furnishings to overcome the tight quarters. Over 2,000 nano units are slated to be built in Hong Kong by 2020.

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As developers have begun building nano apartments to meet demand, prices are lower, but the price per square foot is higher on average.

[South China Morning Post] — E.K. Hudson

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Housing Market