The Rating and Valuation Department reported on Thursday that a total of around 9,642 private residential units were completed in the first nine months of the year, representing a 27.8 percent decrease compared to 13,354 units during the same period last year.
This accounts for roughly 56.8 percent of the government's full-year completion target of 16,975 units.
By region, the New Territories recorded 5,810 completions during the first nine months, surging about 1.1 times year-on-year. Hong Kong Island saw a decline of 18.8 percent to 1,996 units, while Kowloon experienced a significant drop of 77.3 percent year-on-year to 1,836 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 dropped 43.2 percent to 5,079 units year-on-year.
In September alone, approximately 655 private residential units were completed, marking a decrease of about 26.2 percent compared to the previous month.
