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Hong Kong property: CK Asset discounts #Lyos ‘nano flats’ by 32%, signaling the end of the fad for miniscule homes
- Garden duplexes, priced from HK$11.3 to HK$12.8 million, carry discounts of as much as 32 per cent
- #Lyos was at the vanguard of the proliferation of Hong Kong’s so-called nano flats, tiny units measuring less than 300 sq ft
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CK Asset, the flagship property developer of tycoon Li Ka-shing, has slashed the price of some of the remaining flats at its project in the Northern Metropolis by almost a third compared with when it was first launched in 2021.
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The batch of 28 units – 14 flats and 14 garden duplexes – are part of #Lyos, a residential project in Hung Shui Kui in the New Territories. They will go on sale next Sunday, May 19.
CK Asset has so far sold 298 of the 341 units that comprise the development, raking in over HK$1.8 billion (US$230 million). #Lyos was completed last year.
#Lyos was at the vanguard of the proliferation of Hong Kong’s so-called nano flats, tiny units measuring less than 300 square feet, or even 200 sq ft. Generally studios or one-bed apartments, these minuscule homes, also referred to as micro flats, are often open-plan and do not have a window in the bathroom.
More than half of the 341 flats in #Lyos range in size from 202 to 292 sq ft.
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The 14 apartments going on sale at the weekend had previously found buyers who then forfeited on their deposits, CK Asset said on Monday. Ranging from HK$3 million to HK$6.5 million, some of these will be reduced in price by as much as 25 per cent from three years ago.
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