The most new buildings in the border area?

Those who have entered the new building or are planning to rent a new building should pay attention to it. According to the estimates of the estate agents, the areas in which the newest buildings in the New Territories in Hong Kong and Kowloon are completed this year are:

Hong Kong Island is 842 in North Point and 1,391 in Western District;

Kowloon is mainly located in Cheung Sha Wan, with 1,481;

The New Territories are 3,330 in Tuen Mun and 3,958 in Tai Po.

According to a report by the Central Plains Real Estate Research Department, there were 18,381 private residential completions in 2019, 20,968 in 2018, and 17,791 in 2017. The average number of completions in three years was 19,047, which is close to the average of 20,000 per year. In the future, the supply of private buildings will be stable, with annual figures or ups and downs, but the long-term trend is stable.

Moreover, the low supply of private buildings has been corrected, from less than 10,000 per year to nearly 20,000 per year. From 2008 to 2010, the average was 9,779; from 2011 to 2013, the average was 9,284; from 2014 to 2016, the average was 13,865; from 2017 to 2019, the average was 19,047.

Last year, the number of new 21,000 gangs reached the top?

The figure shows that 95 private residential projects expected to be completed in 2019 are selected, for a total of 18,381 units. The number of completions from 2017 is a year-long, one-year high staggered situation.

As Tang Rong’s earlier article has mentioned, according to the Hong Kong Property Annual Report of the Rating and Valuation Department in early 2018, the number of private housing completions predicted in 2019 is 20,371, if the statistics with the estate agent are 20,181 in 2019. In comparison, the numbers seem to have fallen back, with a difference of 1,990. As the figures are estimates from a year ago, more specific data, I believe that the updated annual report of the Hong Kong property should be clearer at the beginning of this year.

Tang Rong has been concerned about whether the new completion of nearly 21,000 people in 2018 has peaked. Will the projected completion figures for 2019 and 2020 be lowered?

In the longer term, the Hong Kong Government’s long-term housing strategy has revised the private housing supply target at the end of last year. The new supply ratio of public and private housing in the 1019-20 to 2028-29 ten-year period has been adjusted from 60:40 to 70:30. The target of public and private housing supply is 315,000 units and 135,000 units respectively. The target for private housing supply has been reduced from an average of 18,000 a year ago to a total of 13,500, a decrease of 4,500. This year, Tang Rong estimates that Affecting the development and deployment of developers, since the current financial year, the number of private land launches will be reduced with the target adjustment, which will also affect the completion of the three or four years. In other words, nearly 21,000 people last year were most likely a year in which the completion amount peaked.