Hong Kong's private home completion jumps 3.4 times in June

The Rating and Valuation Department reported on Thursday that private home completions jumped 3.4 times month-on-month in June to 3,532 units.

A total of 7,914 units were completed in the first half of the year, down 21.4 percent year-on-year, representing about 46.6 percent of the government's full-year forecast of 16,975 units.

By region, the New Territories recorded 5,045 completions in the first half, surging about 4.3 times year-on-year. Hong Kong Island saw a slight decline of 2.3 percent to 1,808 units, while Kowloon experienced a significant drop of 85.4 percent to 1,061 units during the same period.

The majority of completed flats during the period feature small and medium sizes, in which units measured smaller than 431 square feet accounted for 46.1 percent, or 3,643 units. 

The units spanned from 431 to 752 sq ft totalled 3,295 units, which made up 41.6 percent of the overall completion.

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