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.
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