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New high in flat forecast

July 31, 2015

The projected supply of private homes has been raised to a record high of 83,000 for the coming three to four years.

 

Publishing its quarterly figures today, the Transport & Housing Bureau said up to 5,000 more new homes are expected to be made available, compared to its estimate in the previous quarter.

 

The projection of new homes includes 54,000 units under construction but excludes those presold by developers, 24,000 units from disposed sites where construction can start any time, and 5,000 unsold units in completed projects.

 

Meanwhile, the number of flats under construction in the second quarter tripled to 5,900 from the 2,000 in the previous quarter, bringing the figure to 7,900 for the first half of the year.

 

The number of flat completions also surged to 4,200 from 900 in the same period. There were 5,100 flats completed in the first half of the year.



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The Residential Properties (First-hand Sales) Ordinance