The SST reports on an apartment block in Auckland, shown above (sorry can't find it online)
What would you pay for a 47m2 unit? That's about 7 x 7m, or a little larger than most people's living rooms. I would pay about $9.20 and I would keep my dog in it. I wouldn't conceive of making anyone live there.
By proportion, our living room cost around $37,000 and for that money we got a whole house. Admittedly that was a few years ago, but even so, $400,000 is crazy money. That's around a lifetime's savings for most people.
Stand up at the front door and take 7 good-sized paces forward. You've just fallen out the window. How can people live like this? Why would you live in a shoebox in a country like New Zealand with so much free open space?
Don''t have a party either. The units do offer two car parks, but only for an additional $145,000. I've got about 50 free car parks outside if anyone needs them, provided not too many of my neighbours are having a party also.
Is there the future of housing according to the environmentalists? I hope not. Where is the green space, the garden? Where can I sit and contemplate anything other than the traffic? Appartment living is ludicrously overpriced. Why?