ebulletin

May 9, 2026
Hong Kong Residential Construction Starts Surge in First Quarter of 2026

Private housing commencements more than double from late 2025 levels as developers revive projects despite softer long-term supply pipeline

Hong Kong’s private residential construction sector rebounded sharply in the first quarter of 2026, with the number of housing units commencing construction rising by more than 115% compared with the previous quarter, according to the latest government data.

Figures released by the Housing Bureau showed that approximately 4,100 private residential units commenced construction in the first quarter of 2026, up from about 1,900 units recorded in the fourth quarter of 2025. The surge marked one of the strongest quarter-on-quarter increases in recent periods and signaled renewed activity among developers following a subdued second half of 2025.

Government estimates indicated that projected private housing supply for the coming three to four years fell slightly to around 101,000 units in the first quarter of 2026, compared with 104,000 units at the end of 2025.

Within the supply pipeline, unsold completed units declined from roughly 23,000 to 20,000 units. Meanwhile, units under construction increased modestly from 61,000 to 62,000 units, reflecting the acceleration in new project activity.

The number of units on disposed residential sites where construction could begin at any time slipped marginally from 20,000 to 19,000 units, indicating a gradual drawdown in land ready for immediate development.

Although detailed Gross Floor Area (GFA) figures for the first quarter were not disclosed in the summary release, officials noted that small- and medium-sized flats continued to dominate the future supply mix. Approximately 88% of projected units remained below 70 square metres in saleable area, underscoring the government’s continued focus on mass-market housing.

The increase in residential commencements contrasted with broader weakness in Hong Kong’s construction sector. Official construction output data showed overall gross value of construction works remained largely flat entering 2026, while private-sector construction activity softened slightly compared with the third quarter of 2025.

Government officials maintained that the current housing pipeline would continue to provide a stable level of supply over the medium term, despite the modest decline recorded at the start of 2026.

(Reported by Building.hk)

(HKSARG)