Hong Kong’s potential new home supply rises to 100,000 units in third quarter
Hong Kong’s potential new private home supply over the next few years rose to 100,000 units in the third quarter, up 4,000 from the previous quarter, official data shows. Completions fell sharply to 1,700 units, while unsold stock remained steady at 19,000 units.
Hong Kong’s potential new private home supply over the next few years rose back to 100,000 units in the third quarter, according to official data released on Friday.
The Housing Bureau said the number of first-hand private residential units that may be available in the coming three to four years increased by 4,000 quarter-on-quarter in the three months to the end of September. Compared with the same period last year, the figure was down by 2,000 units.
New home completions in the quarter fell sharply to 1,700, down from 6,400 in the second quarter. The number of unsold units in completed projects remained unchanged at 19,000.
Units under construction, minus those already sold by presale, rose to 62,000 as of the end of September. Units from disposed sites where construction may start at any time stood at 19,000.