- Real Estate
The Chinese Parking Lot Size Studio Apartment
Can you imagine living in a studio apartment the size of a parking space, basically, 10.5 ft wide x 15.5 ft long? It is about 160 square feet of living space.
In China, 50 million of its 230 million live in substandard conditions with no bathroom or kitchen and China needs to build 30 million apartments per year until 2030 to meet demand. Many of China's educated actually live in poor conditions because they are just starting out in careers and cannot afford the better mid to high end apartments, not to mention the many low income Chinese workers that build its stunning skyscrapers. All these low end earners need a place, a decent place, to live.
China Vanke, a developer has created this solution, which may be adopted. In New York, micro apartments are 300 sq. feet.
The cost of this tiny living space will be affordable for even the low income at $21,000. To give you an idea how much one can cram into a small space, consider this: the kitchen is 4.6 ft . long, the bathroom is 3.6 x 4.7 ft, the combo living\bedroom is 7.4 ft. long. The bathroom has a shower only and the bed converts to a sofa. Most apartments sell like a house, they are not rented month to month and the average Chinese worker works eight years before they can afford a 1100 sq. ft. apartment.