Hong Kong's private housing completions slumped to a nearly one-year low in May with just 330 units finished, down 80 percent from April, government data showed, raising concerns over the city's ability to meet its full-year supply target.
Although private housing completions totaled 7,426 units in the first five months of this year, 30 percent higher than the same period last year according to the Rating and Valuation Department's Monthly Supplement to the Hong Kong Property Review, this figure represents only 36 percent of the government's 2025 forecast of 20,862 units, suggesting the pace is slightly behind schedule.
Most units completed in May were small flats. Type A units – those with a usable area of 431 square feet or less – accounted for 210 units, or 64 percent of the total. In the first five months, 4,845 of such small units were completed, representing 65 percent of all private housing completions and 44 percent of the government's full-year forecast of 11,065 units in this category, indicating relatively strong progress.
In contrast, only ten luxury homes over 1,722 sq ft were completed in May, and 23 units were finished in the first five months – just 11 percent of the government's annual projection.
By region, Kowloon led private housing completions with 6,729 units in the first five months, driven largely by supply from key areas such as Kai Tak. Hong Kong Island accounted for 575 units, while the New Territories had 122 units completed during the same period.
STAFF REPORTER
