The Major Crisis in Hong Kong Related to Housing

Mar, 2021 - by CMI


When people think of Hong Kong they imagine towering skyscrapers span the cityscapes. Hong Kong is one of the wealthiest cities in the world however it is facing a housing crisis.

Hong Kong is home to some of the wealthiest people in the world but most people in Hong Kong live below the poverty line. The experiences of the rich and the poor people are fully different. Many people consider Hong Kong to be the least affordable city because of its most expensive properties. The housing crisis in Hong Kong is one of the most serious issues that are being faced by the people. The richest people continue to live a healthy and luxurious lifestyle, while people living below the poverty line are unable to find shelter. The average price of property costs around US$200 per square foot and an average house costs around US$ 1.28 million. A small apartment in Hong Kong can cost up to US$ 500,000. Those people who cannot afford to such high rents have to stay under footbridges or at construction sites among other such locations.

Around 200,000 Hong Kong residents are staying in tiny subdivided flats in sharing facilities. These flats are so small that people call it ‘coffin cubes’ because of their resemblance to coffin boxes. These tiny flats do not have more than 20 square feet of surface area and the beds are on top of one another in a cramped building. These living situations are likely to have a negative impact on physical and psychological wellbeing of tenants. The other alternatives for low-income households is to apply for public housing units, which is also very difficult.

Many people started protesting because of these problems. In response to this, the Hong Kong government has announced some plans so that people can get more comfortable homes at an affordable price.