Industrial apartments are not uncommon in Hong Kong.
Many have been in use for decades, and they have been designed to make the apartment affordable.
But they are increasingly being used to house the wealthy, particularly in China, where the cost of living has soared in recent years.
Some are being converted into luxury condominiums, with prices ranging from $1.5 million for a large, open-plan unit in the heart of the city to $10 million for an apartment in a luxury building.
Some of the most popular industrial apartments are located in major cities like Guangzhou, Shanghai and Guangdong, where rents are cheaper and more convenient than the average suburban area.
Many of the apartments are also popular with expats.
In Shanghai, for example, rents range from $2,800 for a standard apartment in the most expensive building to $5,000 for a similar apartment in an upscale area.
The cost of apartments in the city is also rising.
The average monthly rent for a 1,500-square-meter apartment in HongKong is HK$8,900 ($1,000), up from HK$7,500 in 2009, according to the latest survey from China’s Real Estate Administration (REA).
The average monthly rental in the Chinese mainland is HK $3,100 ($1), according to a survey from the Bureau of Industry and Trade, an industry-run agency.