I had a pet peeve all my life.
When I was two, I moved into my new home with my parents. The instant I saw the interior of the HDB flat, I knew I would have a thing against it for the rest of my life.
It’s too small.
Sure, it’s a 4-room flat and all that shit, but it’s small.
Right there and then, I twiddled my thumbs and vowed to move out of that tiny flat once I turned 12.
Well things didn’t quite work out, and I’m still stuck here 20 years later.
But everything changed… when I saw Hong Kong’s BTO.
According to Yahoo News Singapore, at least 2,100 nano flats are expected to be completed between now and 2020 in Hong Kong, “to lure more young homebuyers into getting their first foot on the property ladder in the world’s most expensive housing market.”
The new supply (categorized as marketable areas below 200 square feet in size, or 18 square meters) will accumulate to an average 510 units per year between 2017 and 2020.
This is an increase from the 151 units per year between 2014 and 2016, according to a report by global property agency, JLL.
They will largely be located in the New Territories (far away from the city’s CBDs for your information).
Aren’t there rules preventing you from being a sardine in a tin?
Technically there are, but those only apply in mainly western cities such as London and Sydney.
Hong Kong, on the other hand, has no such rule.
But who would want to voluntarily feel like a squished pineapple 24/7?
You’ll be surprised, but many Hong Kong first-time buyers would practically jump at the notion.
That’s because housing prices in the country have been experiencing some serious spikes, and as a result, these cheaper options have become more viable to the market.
And you gotta admit; it does look pretty luxurious.
Despite its size, it looks 100 times more luxurious than the average 4-room HDB flat.
Suppliers are jumping onto the bandwagon
It’s common sense: with high demand, high supply would naturally follow.
And it wouldn’t be an exaggeration to say that local developers have been tripping over themselves in an attempt to create more of these nano flats for consumers.
Oh, and here’s the interesting bit: there are even smaller nano flats in production, which will range in size from 128 sq ft upwards. In case you weren’t aware, that’s even smaller than a routine 134 sq ft Hong Kong car parking space.
So yeah, if you Singaporeans ever wanted to live the cramped atas life, you know where to go.
Meanwhile I’ll just be chilling in my not-so-small HDB flat and sipping on some cockroach milk.
Useless trivia: that shit’s got three times more protein than cow milk
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This article was first published on goodyfeed.com
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Featured Image: Yahoo News Singapore
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