Hong Kong’s property developers are scaling down, way down, for younger, middle-class buyers, offering micro-sized upscale apartments with eye-popping price tags.

Hong Kong — With its marble-clad lobby, sweeping balcony views and sleek, modern decor, Donny Chan’s apartment building would seem the kind of upscale tower most young Hong Kong professionals ...

Buyers in Hong Kong are snapping up “Mosquito Apartments”—180-square-foot flats in luxury high-rises. These tiny dwellings are selling for more than $500,000 in some areas.

Although the thousands of lumbering concrete apartment blocks here are numbingly uniform, a half million of their pint-sized apartments are some of the most sought-after accommodations in the world… ...

Hong Kong's government is planning to crack down on what it calls inadequate housing in subdivided apartments, mandating a minimum size and other baseline standards for homes like Au's.

Hong Kong's apartment market has been dominated by new towers with views—and prices—unseen almost anywhere. But buyers and renters are rediscovering an earlier generation of buildings.