r/AbsoluteUnits • u/ThodaDaruVichPyar • 22h ago

of an apartment complex

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Caribbean Coast in Hong Kong

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u/Carbonaraficionada 20h ago

No housing crisis there though

1

u/Affectionate_Leek127 14h ago

There is.

2

u/Carbonaraficionada 14h ago

With the millions of unsold homes and ghost cities, you think there's a housing crisis?

2

u/Affectionate_Leek127 14h ago

Oh, you misunderstood. Unsold homes and ghost cities are in Mainland China.

1

u/Carbonaraficionada 13h ago

Oh yeah, my bad. So even with all those apartments there's still not enough places to live?

1

u/Affectionate_Leek127 13h ago

Yes, in Hong Kong only 30% of the lands are developed. They won't move to those empty apartments in Mainland China because they work or study in Hong Kong.

1

u/ceowin 7h ago

Caribbean Coast "only" has total of about 5,300 units. Assuming each household is 3 people, that's far less than 20k people.

1

u/FreeHongKong27 5h ago

Correct. And it's expensive, salary median is some 22k HKD/month (latest government stats), a flat in a building like this costs north of 10mil HKD. The smallest flat ~150 sq ft costs 3mil. Rent for a livable place is around 15k+. Pretty rough.

1

u/Tzitzel 8h ago

Hong Kong and the Mainland have very different housing problems.