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A woman and her son live in this 60-sq.-foot subdivided unit, which has a monthly rent of $487.   © Reuters
Business trends

Apartments shrink as Hong Kong's property tycoons prosper

Critics say policy failure to blame for affordable housing crisis

KENJI KAWASE, Nikkei Asian Review chief business news correspondent | Hong Kong, Macau

TOKYO -- Apartments in Hong Kong are becoming so small that the city has had to coin a new term for them: "nano flats." Commonly defined as being smaller than 200 sq. feet, or about 18.6 sq. meters, these units are about the size of a parking spot -- and they are selling as fast as developers can build them.

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