Hong Kong is the most expensive housing market in the world. It has been ranked as the least affordable housing market on Earth for eight years in a row, and the price per square foot seems to be only going up. The inflated prices are forcing Hongkongers to squeeze into unconventionally small spaces that can affect their quality of life.
Tens of thousands of Hongkongers are living in spaces that range from 75 to 140 square feet. To put that in perspective, the average parking space in the US is about 150 square feet. And in the most extreme cases, Hongkongers have resorted to homes the size of a coffin.
I spent some time exploring the living situation in Hong Kong to find out why housing has become so expensive and spaces so tight.
To understand how Hong Kong’s housing market turned out this way and see how it’s affecting people’s lives, watch the final episode of Borders Hong Kong.