In Hong Kong, the projected private flat supply for the next three to four years is 93,000 units, 1,000 more than the previous estimate. The Transport & Housing Bureau earlier said there were 12,000 unsold units in completed projects at the end of March.
There were 56,000 units under construction, excluding those pre-sold by developers, and 25,000 units from disposed sites where construction may start any time. The number of flats under construction in the first quarter was 2,200, while the same number of units were completed during the period. For details <click here
The Lands Department issued eight pre-sale consents for residential and non-residential developments in the first quarter of this year. Six were issued for four residential developments, involving a total of 1,832 residential units. One development in Sha Tin, comprising 66 units, is expected to be completed in 2021. Two developments in Kai Tak and Kwun Tong, comprising 329 units, are due for completion in 2022. Three phases of a development in Sham Shui Po, comprising 1,437 units, are expected to be completed in 2023. By the end of March, 22 applications for pre-sale consent for residential developments with a total of 12,533 units and four applications for pre-sale consent for non-residential developments were being processed.