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A ‘depressing’ 55-sq-ft flat with a toilet by the only window, a fridge under the stairs and a bunk almost touching the ceiling is design “genius”, says new tenant, restarting cost-of-living debate in China.
Increased dependence on the government lets it off the hook for not getting on with addressing the city’s deep-rooted problems. Now without the balm of handouts, the government has to take on the painstaking work to revive our economy and support households with children.
Authorities on Tuesday rejected all five bids for site in Tai Lam, which would have yielded an estimated 2,020 homes.
Small to medium and nano flats will gain the most, with rents of homes near universities and MTR stations also rising, said analysts from Midland Realty and Centaline Property Agency.
As of Friday, 254 of the flats at Kai Chuen Court in Kowloon, offered under the Green Form Subsidised Home Ownership Scheme, still have not found buyers; all are smaller than 200 sq ft.