Wednesday, May 05, 2010

(Almost) Heaven and (almost) Hell - Hong Kong Homes

One day last week, there was an article on the front page of a local newspaper on The Lily, a luxurious apartment building in Repulse Bay. The average sale price of the project is expected to reach HK25,000 per square feet. Or, alternatively, to be rented at $50 per square feet per month.

On an inside page of the same newspaper on the same day, there was an article on cage homes. A 700 sq ft apartment can be cut up into 50 such cage homes, each renting for up to $1,000 per month. The rental rate turns out to be comparable to that of the Lily.

1 comment:

Anonymous said...

Shame on the landlords of the caged homes, shame on the developers, shame on the government.

Another example where the have-nots are paying (too much) for the haves.