13,850 private flats forecast in 2018-19

13,850 private flats forecast in 2018-19

Supply from all sources would have a capacity to produce about 13,850 private housing flats in the financial year of 2018-19, the Secretary for Development, Michael Wong said today.

“This supply has taken account of the recently announced public/private split for the supply of new housing units in line with our Long Term Housing Strategy, under which a split of 70 percent vs 30 percent for public housing and private housing respectively has been adopted,” he said.”

Wong said the supply of private housing land would continue to stand at a relatively high level. “Taking the three-year period from 2016-17 to 2018-19 as an example, the annual average number of units to be provided would still stand at nearly 20,000 flats. The projected first-hand private residential units available in the coming three to four years is estimated to be around 93,000 units.” 

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