Hong Kong’s potential new private home supply drops to 101,000 in Q1, official data show

Hong Kong’s potential new private home supply in the coming few years dropped to nearly 100,000, official data showed.

The number of first-hand private residential units that may be available in the coming three to four years fell by 3,000 to 101,000 quarter-on-quarter in the three months through March, data from the Housing Bureau showed on Thursday. 

There were 1,600 new homes completed in the quarter, down nearly 70 percent from the previous quarter.

Unsold unit number in completed projects also declined to 20,000, the lowest in seven quarters, from the previous three months.

Units under construction less units sold by presale dropped to 62,000 as of the end of March and units from disposed sites where construction may start anytime was 19,000.

The number of private residential units commenced construction in the quarter was 4,100 units.

 

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