The Average Home in Hong Kong Is Much Smaller in Size

The average home in Hong Kong is much smaller in size than in Australia. How is the difference related to land being more expensive in Hong Kong?

A) As land is more expensive, real estate developers build high-rise apartments.
B) As land is more expensive, real estate developers build smaller homes.
C) As land is more expensive, the price of housing is higher, so people buy smaller homes.
D) None of the above.