Micro-apartments with an area of less than 8 square meters have been banned in Hong Kong.

Hong Kong authorities have banned the construction of houses with tiny apartments of less than 8 square meters, Bloomberg reported on September 26.

According to the new bill, the so-called divided apartments must have an area of at least 8 square meters. m and be equipped with a separate bathroom, fire safety equipment, lighting and ventilation.

"These measures were taken in response to Beijing's concerns about so-called "cage houses" — small apartments often rented to the poor," the agency writes.

Organizations helping the poor in Hong Kong have already warned that these measures could lead to higher rents for affordable housing. The supply of such affordable housing is likely to decrease.

Luxury apartments have been opened: the volume of luxury housing on the market has grown by a third in a year

The average cost of such facilities has already reached 3.4 million rubles per square meter

Earlier, on May 7, it was reported that China lowered its base interest rate to 1.4% and reduced the amount of money that banks need to keep as reserves to support the economy in a trade war with the United States. It was clarified that the cost of loans under the state housing purchase program has been reduced to 2.6% in order to meet the urgent housing needs of residents and help stabilize the real estate market.

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