Hong Kong Homes Shrinking, Down 26% in Nearly 30 Years

HONG KONG (CNA) - A study by a Hong Kong think tank has found that Hong Kong homes are getting smaller, shrinking by 26% compared to 30 years ago. Compared to Singapore, another densely populated city-state with limited land, current homes in Hong Kong are 28 square meters (approximately 8.47 ping) smaller.

A report recently released by the Academy of Future Economy, composed of scholars and professionals, stated that their research found local housing is being built smaller and smaller. Over the past 30 years, the average housing area has fallen instead of risen, decreasing from 50.4 square meters in 1995 to 37.2 square meters in 2024, a drop of 26%.

The report compared housing areas in Hong Kong, Singapore, Japan, and the UK. Taking private residences as an example, Hong Kong averages only 43 square meters, while Singapore has 71 square meters, and new apartments in Tokyo are 66 square meters.

The report stated that Singapore is one of Hong Kong's most natural comparison points. Both locations have limited land, high population density, and extensive public housing systems, yet the area of new public housing in Singapore is significantly higher than in Hong Kong.

It is reported that the average area of Build-To-Order (BTO) flats built in Singapore in recent years is about 80 square meters, down from 120 square meters in the mid-1990s. However, in 2024, the average area of newly completed public rental housing (government-built rental housing) in Hong Kong is only 26.7 square meters, and newly completed Home Ownership Scheme (HOS) flats (government-subsidized housing sold to citizens) are also only 27 square meters.

The report indicated that the living conditions faced by Hong Kong's younger generation are worse than those of the previous generation. The problem is not just about price, but also a fundamental change in the housing being built. All types of housing are shrinking, and the number of housing units masks the true state of supply, with homes suitable for families disappearing from the market.

Therefore, the report recommends that the government include a "new area added" indicator in housing supply, rather than measuring solely by the number of new units. (Editor: Chu Chien-ling) 06242024