Private building completed in January, 92%
According to the latest information from the Rating and Valuation Department (hereinafter referred to as the Rating and Valuation Department), a total of 421 private residential flats were completed in January this year. They fell for the first time in two months, a sharp drop of 92% from the 5281 in December last year. The completion amount is also the lowest since the record of 344 in January last year.
According to the latest monthly Supplement to the Hong Kong Property Report released by the Department of Differential Assessment, most of the completed projects in January this year came from the New Territories, accounting for 420 flats. Hong Kong Island has a large flat with a saleable area of over 1722 square feet. No units were completed in Kowloon, and there was another “zero completion" in Kowloon in about 8 months since May last year.
As for the units completed in January, the B-type units with a saleable area of 431 to 752 square meters dominated. A total of 170 units were completed, accounting for 40.4% of the total completion; followed by Class C units with a usable area of 753 to 1075 square meters. The ratio is 24.2% and involves 102 units.
In addition, the Department of Health and Welfare announced the latest rental returns for various properties. The return for Class C flats rebounded to 2.4% in November and December last year, and fell by 0.1 percentage point to 2.3% in January. The return is unchanged from 2.1% to 2.8%.