Private building starts alone, 13 people, 29 months low

Private building starts alone, 13 people, 29 months low

The number of private buildings continued to be low. In November 2018, only 13 people were employed, which was a new low of nearly 29 months. In addition, the cumulative number of the first 11 months of last year was only 12.6 million, a decrease of 33% year-on-year, a record low of nearly 4 years. The year-round standard is hopeless.

Last November, only the former Hedong Garden was rebuilt

According to the information provided by the Buildings Department, only one private residential project commenced in Hong Kong in November last year (subject to the commencement of the notice on the commencement of the building works by the Buildings Department). It is a section of the hill road held by the Mainland’s richest man, Zhang Song Bridge, which is known as “Chongqing Li Ka Shing". Before the No. 75, the Hedong Garden Reconstruction Project provided 13 groups.

According to the data, the amount of work started in November last year was 13% lower than the 2,303 people recorded in October, a 29-month low since July 2016. As for the first 11 months of last year, the cumulative number of jobs was only 126,000, which was 34% lower than the 19,000 people in the same period in 2017. It was also the lowest in the same period in four years. It is more than 5,000 people in the whole year. It is difficult to meet the standard.

Pushing the new building vacant tax

After the government announced the launch of the new building vacant tax in June last year, the pace of construction of private buildings has slowed down. The average monthly work volume from July to November in the second half of the year was only 852, compared with the average of the first six months of the first half of the year. Gang, obviously reduced by 30%. The situation may indicate that developers are worried that the new disk should be included in the vacant tax, thus slowing down the pace of development.

Chen Haichao, head of the research department of Lijiage Real Estate, predicts that large projects are still approved by the Buildings Department and can be constructed at any time, including China Overseas (00688) Tai Po Tian Zhu (1,620) and Cheung Kong (01113) Tseung Kwan O Sunrise. Canton City Phase 8 (1,422), etc., whether the project can be rushed to construction, will affect the amount of work throughout the year. Chen estimates that the amount of work started last year will be about 14,000 to 15,000.

In the first 11 months of last year, a total of 32 new discs were started. Among them, the New Territories have the largest number of people involved, with a total of 9,256, accounting for 73% of the total, followed by Kowloon, involving 2,675, while Hong Kong Island Only 691 people, reflecting the supply of new disk in the future, will still focus on the New Territories.

As for the amount of completion, four new entrants were registered in November last year (calculated for the occupation permit), involving a total of 2,617 gangs, which was more than five times higher than the 409 in October, nearly four months. The new high, while the first 11 months of the year recorded a total of 15,700 gangs, an increase of 7% over the same period in 2017, is also the highest in the past 13 years.

Among the projects that took the occupation paper in November, the longest love of the sea, the love of Hyun Hsiang, the most, involving 1,436, followed by Poly Land (00119) Kai Tak Long Yu, involving 930.