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Source: getty

People in Hong Kong Are Paying $500K for Apartments the Size of Parking Spaces

By Mustafa Gatollari

The housing crisis is Hong Kong is getting pretty severe. Not only is the country densely populated, but with copious amounts of money flowing through the area, you've got to have a lot of coin to live there.

If you're a landlord, then you're probably grinning from ear-to-ear, because that means you can construct tiny, "nano-flats" that some people would be willing to pay for. You can pack as many tenants as you want into these tiny, crowded spaces and, due to the economy of the area, chances are someone will buy them.

At least that was the logic employed by this developer who debuted this latest crop of uber-tiny apartments. Turns out the public has rebuked them, not just because they cost an obscene amount of money, but because they're no bigger than a parking space.