In October, 1,558 private building starts were recorded, which is more than a single month this year
However, the number of private building starts in the first 10 months of this year was only 8,957 units, which was 29% lower than the 12,600 units in the same period last year. New low over the same period.
According to the Buildings Department’s information, two private residential projects started in October (based on the Buildings Department’s notification of the start of construction works), involving 1,558 units, which is a 73% increase from the 901 units in September this month, this year The second highest in a month.
8957 units started construction in October
Among them, the commencement of construction projects includes Sites 1 to 3, Shek Kok Road, Tseung Kwan O, which is owned by Jiu Jian (00034), involving 1,556 units. The developer stated that the project has the opportunity to promote off-plan sales next year. The other is the Xiaolan Guanfeng Street Project in Tuen Mun, which will build 2 units.
As for the first 10 months of this year, there were only 8,957 units started. A total of 35 private residential projects were started, which was a year-on-year decrease of 29% compared with 12,609 units.
In addition, the number of private residential projects completed in October (based on the acquisition of occupation permits) involved a total of 2,074 units, down 49% month-on-month, which is still the second highest in a single month this year.
In the first 10 months of the year, 12,624 units were completed
Excluding non-private dwellings, a total of 12,174 units were completed, a decrease of about 7% compared to the same period last year, a new low in the same period in three years. If the calculation with the government predicts that 20,400 units will be completed in the whole year, only 60% of the standards will be met for the time being.
Liu Jiahui, chief analyst of Midland Realty, said that many units have been sold through pre-sale off-plans. As of the end of November, of the units completed in the first 10 months of this year, about 9,386 units were sold, about 77%.