Properly some of the city’s cheapest as well as smallest new flats, this latest development “Mont Vert” by Cheung Kong provides some studio flats which have measuring under 200 sq ft and sold for under HK$2 million. Although this tiny space is quite unlivable for someone, it is affordable at least.
Source: The Standard Finance
Noting that studios at the Tai Po project are sized between 177 and 196 sell-able square feet, Chiu said it is not necessary to have show flats for such small units.
He also said the 196 studio flats on offer are not designed like subdivided units, and that those living in such units at present would be happy to move into the smaller options at Mont Vert.
Chiu also denied that Cheung Kong is trying to maximize profits by launching smaller flats, and stressed that prices are cheap at HK$8,000 per sellable sq ft.
The first batch of 377 units will be sold from Saturday, and agents claim to have already received more than 5,000 subscriptions.
The project has been criticized by the Sale of First-hand Residential Properties Authority for not allowing on-site visits. The authority also warned that lower floors may overlook a nearby graveyard.
Chiu said demand for smaller flats has risen lately due to capital inflows and he expects prices to climb gradually this year due to insufficient supply.