Sun Hung Kai Properties, Wheelock among developers rushing to build small flats as Hong Kong home prices approach all-time high

Hong Kong’s biggest developers are joining the rush to build small flats to woo young buyers as prices in the world’s most expensive housing market approach an all-time high. The move is being criticised by a senior adviser to Beijing for its profit motive.Sun Hung Kai Properties (SHKP) plans to build 5,400 units in Sai Kung, with the smallest measuring 8.2 square metres (about 88 sq ft), according to a filing with the Buildings Department.In Kowloon, a consortium of Wheelock Properties,…

Sun Hung Kai Properties, Wheelock among developers rushing to build small flats as Hong Kong home prices approach all-time high
Hong Kong’s biggest developers are joining the rush to build small flats to woo young buyers as prices in the world’s most expensive housing market approach an all-time high. The move is being criticised by a senior adviser to Beijing for its profit motive.Sun Hung Kai Properties (SHKP) plans to build 5,400 units in Sai Kung, with the smallest measuring 8.2 square metres (about 88 sq ft), according to a filing with the Buildings Department.In Kowloon, a consortium of Wheelock Properties,…