Fewer private flats expected in next 3-4 years

Around 27,000 units in completed projects were not sold last year.

The Housing Bureau has cut its projected private flat supply for the next three to four years to 107,000 units, which is 1,000 lower than the previous estimate.

According to authorities, there were 27,000 unsold units in completed projects at the end of December 2024. Meanwhile, there were 68,000 units under construction, excluding those pre-sold by developers, and 12,000 units from disposed sites where construction may start anytime.

The bureau said there were 1,800 flats under construction in the fourth quarter of 2024, whilst 13,300 units were completed during the period.