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Windows 8 has the following system requirements:

• 1 Gigahertz or faster 32-bit or 64-bit processor
• 1 Gigabyte of RAM for 32-bit, 2 Gigabytes of RAM for 64-bit minimum
• 16 Gigabyte hard drive for 32-bit systems, 20 Gigabyte for 64-bit systems
• Direct X 9 graphics card

Update: It is also possible to install Windows 8 by mounting the ISO image directly on another Windows system. The instructions have been posted on Reddit (via):

If you want to install the Windows Developer Preview, but have no blank DVDs or usable thumb drives, fear not. It’s fairly simple. This assumes you are installing the preview on a computer already running Windows, of course.

• Download the ISO file from Microsoft.
• Mount the ISO using Daemon Tools, Clone Drive, or similar.
• This is important. Do not use the autorun installer. The autorun installer only allows you to upgrade your existing Windows installation and will not allow you to install to a separate hard drive or partition.
• Navigate to the virtual install disc and go to the folder called “sources”.
• Run setup.exe and proceed as if installing Windows Vista,7and 8.