According to the monthly data released by the Buildings Department today, there are 6 private residential projects in Hong Kong in October this year
with a total of 2,074 units completed. The second highest, but a sharp drop of 43% from 3,635 units in September; as for the first 10 months of this year, only 12,174 private houses were completed, which was a decrease of nearly 7% year-on-year compared with 13,086 units in the same period last year, which was the least in the same period in the past three years. It accounts for only about 59.6% of the 20,420 units forecast by the Bureau of Estimates throughout the year.
According to statistics, a total of 6 private residential projects in Hong Kong were officially completed in October. Among them, a larger scale includes Pak Shek Kok “Jiaxi”, involving 1,122 units; followed by Pak Shek Kok “Yunhui” (Phase 2), involving 640 units ; As for other small and medium-sized projects, including Xiwanhe “East” (144 units), Mid-levels Moruo Temple Street 18 (92 units), Mid-Levels West “University Pavilion” (75 units) and Sheung Shui Fanjin Highway Project (DD 100 Lot 1909) (Part 2) (1 group).
The largest number of New Territories completions was 7,727
By region, the number of private residential units completed in the New Territories was larger in the first 10 months of this year. A total of 24 projects were completed in the district, involving a total of 7,727 units, accounting for approximately 63.4% of the total private residential completions during the same period. There were 10 projects in Kowloon. The number of units involved was 2,700, accounting for approximately 22.2% of the total during the same period. As for Hong Kong Island, 17 projects were completed, involving 1,747 units, accounting for approximately 14.4% of the total during the same period.
According to Chen Haichao, Head of Real Estate Research at Lijia Pavilion, developers have adjusted the construction progress due to the effect of the first-hand vacancy tax. There were only 12,174 private residential units completed in the first ten months of this year, accounting for only 59.6% of the 20,420 units of the full-year forecast by the DAP. The overall completion progress fell behind expectations.
The number of completions in the year may be close to 16,000
In the remaining two months of this year, there are still some focus projects that are expected to catch up and be completed. These include Tuen Mun “Shangyuan” (1,154 units), Sai Ying Pun “Hanlin Peak” (645 units), Tai Kok Tsui “Leo Place · Kai An” (514 units), Sai Ying Pun “63 Pokfulam” (350 units), etc., plus other small and medium-sized projects, it is estimated that the number of completions in the whole year of 2019 may be close to the level of 16,000 units, which is expected to be lower than the estimated by the Gap Administration. 20,000 units.