Number of newly built private homes slides

Hong Kong’s private housing completions hit a four-month low in January, falling more than 66 percent from December to 1,886 units, according to the Buildings Department.

The figure also marked a year-on-year drop of over 47 percent.

Despite the decline, analysts noted that January’s completions already accounted for nearly 10 percent of the projected annual supply, with the city still expected to see around 20,000 new private homes completed this year.

Four private residential projects were completed in January, according to data from the Buildings Department.

The largest of these was the second phase of KT Marina in Kai Tak, which involved 1,121 units, followed by Bondlane II in Cheung Sha Wan, In One Phase IC in Ho Man Tin, and The Highline in Kennedy Town, with 378, 214, and 173 units, respectively.

STAFF REPORTER