Hong Kong’s apartment supply to hit new record high

Hong Kong’s apartment supply to hit new record high

Private home supply is projected to hit a record high of 86,000 in the coming three to four years, the Transport & Housing Bureau has announced.

Publishing its quarterly figures today, the bureau said up to 3,000 more new homes are expected to be made available, compared to its estimate in the previous quarter.

The projection of new homes includes 55,000 units under construction but excludes those presold by developers, 26,000 units from disposed sites where construction can start any time, and 5,000 unsold units in completed projects.

Meanwhile, the number of flats under construction in the third quarter was 3,500, bringing the figure to 11,400 for the first three quarters of the year.

The number of flat completions fell 33% to 2,800 in the same period. There were 7,900 flats completed in the first three quarters of the year.

 

Hong Kong’s apartment supply to hit new record high

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