I can understand if some senior executive of some multinational, i-banker or successful entrepreneur who just moved to town will expect an accommodation that befits their status. But I'm not those types and for me personally, indoor space I don't really expect a huge amount...just enough for me to feel comfortable moving about. What is more important is the environment and neighbourhood where I lived. Make it pleasant and relaxing to be there, that is what matters to me. Too many places in HK (especially the more run-down/old inner city areas like Yau Ma Tei, Shum Shui Po) are just concrete jungles without a blade of grass.
If people in HK have to work so long at their office, the least the government could do is to make the place where the majority live more pleasant to be around. The government will be surprised how a more comfortable living environment could help reduce the stress and misery of locals.