
Life Inside Hong Kong’s ‘Coffin Cubicles’ - the_duke
https://www.nationalgeographic.com/photography/proof/2017/07/hong-kong-living-trapped-lam-photos/
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kmlx
to put things into perspective, two flats in the Peak district sold for
HKD1.16 billion back in ‘16.

my understanding from some family friends that have been living there for
generations is that the government keeps prices up by not giving out permits
for development. since HK has none or very low taxes (no VAT, no income/sales
tax, no min wage etc etc), one way to raise funds is via stamp duty when
buying a flat. thus keeping prices up keeps the coffers full (HK runs a
surplus every year that it sometimes distributes back to residents in the form
of cash payments)

since my info is based on hearsay from locals, take it with a grain of salt.

sources:

[https://m.scmp.com/property/hong-kong-
china/article/2120677/...](https://m.scmp.com/property/hong-kong-
china/article/2120677/hong-kongs-us717-million-mount-nicholson-flat-grabs-
title)

[https://m.scmp.com/news/hong-
kong/politics/article/2138617/2...](https://m.scmp.com/news/hong-
kong/politics/article/2138617/28-million-hongkongers-get-cash-handout-
hk4000-each-targeted)

