From parking spots to shoebox rooms, there seems to be no end to the reminders of just how expensive space can be in Hong Kong.
And, unfortunately, this story of a HK$152,105 (US$19,382) toilet won’t bring much relief.
The constricted lavatory first made headlines last year, when an intrepid Apple Daily reporter of average height conducted an investigation into the 190 square foot “micro flats” on sale at Seven Victory Avenue, a “luxury” housing estate in Ho Man Tin.
By investigation, we mean he visited a model unit for the development by Henderson Land, sat on the toilet and tried to close the door, a routine task for most of polite society that proved challenging.
But if you thought not being able to close the toilet door was a barrier to selling the apartment at an astronomical price then, well, you obviously just arrived in Hong Kong, so welcome.
The one-room flat, according to Apple Daily, was yesterday sold for HK$5.78 million (just under US$737,000), making each square foot worth about HK$30,421 (US$3,876).
This means that that the five square foot space for the toilet is worth an eye-watering HK$152,105 (US$19,382.)
Sigh.
Anyhow, in other real estate news, RTHK reported yesterday that government is expected to announce a decision by the end of the month on whether or not a tax will be imposed on empty properties held by developers. Developers are believed to be hoarding at least 9,000 completed flats.
News of the proposed tax was first announced in May, and while some lawmakers support the idea of a tax, housing experts were more skeptical, pointing out that the city’s powerful property developers would be opposed to such a tax, the SCMP reports.
