Hong Kong housing: crazy

For those wanting to rent a short-term apartment in Hong Kong, maybe you can first acclimatize yourself with the living condition and housing price here.

This video, a project by a Hong Kong student, has gone viral. It is a parody of how Hong Kong’s real estate companies go to extreme lengths to promote their flats (including the surroundings and the construction materials used) in order to fetch an exorbitant price.

Towards the end, the video shows what the cubical flat is really like without decoration. It is such a true representation. We all know the tricks of the property companies – showing you a very nice show room before the building has been completed, to lure you to buy in advance, and then you find that the flat you have bought is so different from what has been shown in the show room.

Btw, the small cubical flat in the video, just big enough to put down a small mattress, was rented by the student for 3 days for filming the project. The rent is US$13 per day, and US$400 per month.

The property in the project is called King’s Cube, whose name is similar to a new luxury property in the real world – the Queen’s Cube complex in Wanchai. When the flats in Queen’s Cube were open for sale late last year, the price was HK$10M (US$1.3M) for a flat of 580 sq.ft (53 sq. m), which is floor size only. The actual size is a mere 65% of it. The rent? HK$26,00 – 28,000 a month. It is furnished with balcony, but only one bedroom, and hardly any view.

I still don’t understand why a government organization, Urban Renewal Authority, tasked for the city’s re-development has worked with a private developer to develop a property that sells for such a crazy price. Isn’t it wrong and not justified?? This is what the city’s redevelopment is like?? Luxury properties for the rich??

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