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Hong Kong s housing crisis: Soaring prices put flats beyond reach, while queue to rent keeps growing longer

In the first of a three-part series on Hong Kong’s housing crisis, the Post examines why demand outstrips supply, leaving Hongkongers unable to afford their own homes. Airport worker Wong Ng is aware that Beijing wants Hong Kong to get rid of all tiny, substandard homes by 2049. That ambitious goal is cold comfort for the permanent resident who has.

The time to consider curbs on the building of nano flats is now

news The time to consider curbs on the building of nano flats is now SCMP Editorial © SCMP Researchers from Liber Research Community Neon Yiu Ching-hei (left) and Chan Kim-ching present their study on “nano flats” built by Hong Kong developers. Photo: SCMP/ Joyce Ng The Development Bureau has made it clear the government has no plans to rein in the construction of micro flats, or shoebox flats. This may be good news to aspiring homeowners who can no longer afford normal living spaces. But it is bad news for an ageing population. Tiny homes are a disincentive for formation of new family households. And most buyers have little hope in the short term of being able to trade up in one of the world s most expensive markets. Ironically, government policy curbs on speculative demand for luxury flats is partly responsible for developers switching to small flats and for allowing sizes to be compressed to increase supply.

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