This year, 18,000 new buildings have been completed. More than 40% of small and medium-sized households in Kai Tak in Tsuen Wan have led the supply chain.
In recent years, the government has actively pushed land to increase residential supply, prompting the completion volume to continue to rise to a new high. Among them, the statistics of the Bureau of Estimates show that there are 18,130 private residential buildings completed this year. This newspaper analyzes relevant data and divides it into individual districts. Dezhou and Tsuen Wan Districts’ supply-reserve accounts for 43% of the total completion, with a total of approximately 7,700. Among all units, the number of medium- and fine-sized units continues to increase, with a year-on-year increase of over 30%, and the supply has increased.
The Rating and Valuation Department earlier released preliminary statistics on the “Hong Kong Property Report 2018”. It is forecasted that the completions for this year and next year will be 18,130 and 20,370 respectively. In the two years, a total of 38,500 new supplies will be provided, reflecting the government’s strategy to increase land supply in recent years. Gradually see results. In terms of zoning, the new supply is mainly concentrated in the New Territories. The report predicts that 49% this year will come from the New Territories, which will account for about 8,900 people. As for the New Territories, which will continue to be the major supply of new discs next year, the supply has soared to 64%, accounting for about 24,600 people.
If divided by region, Midland Data showed that there were 4,600 and 3,100 completed buildings in Kowloon City District (including Kai Tak) and Tsuen Wan District this year. In total, there were about 7700 people, accounting for more than 40% of the total, and will become the new supply town. It was mainly due to the recent introduction of new discs in the two districts. The supply was relatively high. There were about 2,400 people in Tseung Kwan O and Sai Kung, followed by about 2,200 in the Eastern District and 1200 in the Sha Tin and Tuen Mun Districts.
As for next year, Sai Kung (including Tseung Kwan O District) has the largest number of completions, accounting for 19% of the total number of 20,370, ie 3,870, while Tai Po has a 16% supply, or 2,900.
Kai Tak District New Building Supply
On the other hand, each of the units continues to be dominated by small and medium-sized units. About 16,130 medium- and small-sized units were completed this year, accounting for 88% of the total, and they were also 28% higher than the 12,520 of last year, and there were 20,370 small and medium-sized units next year. Inaugurated, it can be seen that the supply of this type of unit is rising at a positive level.
Mr. Bush Shaoming, Chief Executive Officer of Midland Property Residential, said that in recent years, the number of private residential properties completed has continued to rise. This shows that the government’s efforts to promote land supply have surfaced. Supply continues to be put in place. It is believed that even if supply increases, the rigid market demand is strong. Assimilated by the market, there are not many cargoes on the current floor of the market, which will have little impact on the overall property market.
Rental market or under pressure
With regard to the newly completed concentration in Kowloon City District (including Kai Tak) and Tsuen Wan District, whether or not to suppress rents, Bush Shao Ming pointed out that when the occupation of a new market surges, the rents in the rental market will be under pressure in the short term, and there is ample room for the owners to negotiate prices. In the long run, rentals in the rental market will pick up. In recent years, the amount of new discs completed is still dominated by small and medium-sized units. It is expected that the property price of the property below 6 million yuan will increase by 15% during the year, and the overall property market is expected to increase by 10%.