Poor man's housing at rich man's prices in HK
Source: Agencies |
April 29, 2010, Thursday
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HONG Kong's so called "cage men" may be among the city's poorest, but rents per square foot for their dingy wire-mesh cubicles are now on a par with luxury flats in the city's famed Peak district.
With Hong Kong property prices soaring and urban redevelopment shrinking the supply of older, cheaper tenement blocks, thousands of cage men living in 15-square-foot cubicles, usually crammed eight to a room, are being squeezed even more.
Sze Lai-shan of the Society for Community Organization said rents for the city's cage homes had risen around 20 percent over the past year.
Some cages now renting for up to HK$1,500 (US$193).
On a square-foot basis, such rents exceed those of some mansions in Hong Kong's exclusive Peak district where many local tycoons reside.
"There have been rental price rises all the time," said Sze. "It's more expensive than the Peak district, which is about HK$30-40 per square foot."
While the financial hub of Hong Kong enjoys a reputation as one of Asia's most affluent cities, its wealth gap is among the worst in Asia, with around 100,000 of the city's 7 million people living in tiny units of less than 60 square feet, according to Sze.
"The government doesn't really have a perspective for helping these people," said Sze.
Hong Kong's government says public housing is available with an average waiting time of 1.9 years for general family applicants and 1.2 years for the elderly.
With Hong Kong property prices soaring and urban redevelopment shrinking the supply of older, cheaper tenement blocks, thousands of cage men living in 15-square-foot cubicles, usually crammed eight to a room, are being squeezed even more.
Sze Lai-shan of the Society for Community Organization said rents for the city's cage homes had risen around 20 percent over the past year.
Some cages now renting for up to HK$1,500 (US$193).
On a square-foot basis, such rents exceed those of some mansions in Hong Kong's exclusive Peak district where many local tycoons reside.
"There have been rental price rises all the time," said Sze. "It's more expensive than the Peak district, which is about HK$30-40 per square foot."
While the financial hub of Hong Kong enjoys a reputation as one of Asia's most affluent cities, its wealth gap is among the worst in Asia, with around 100,000 of the city's 7 million people living in tiny units of less than 60 square feet, according to Sze.
"The government doesn't really have a perspective for helping these people," said Sze.
Hong Kong's government says public housing is available with an average waiting time of 1.9 years for general family applicants and 1.2 years for the elderly.
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