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RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong
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Over 3,300 flats to be available in Q4

Around 2,630 will come from the sale of four residential sites.

An estimated 3,360 flats will be made available in October to December, according to a government statement, as the administration works double time to ease the city’s chronic housing crunch. 

Also read: Hong Kong faces world's greatest housing bubble risk: UBS

Around 2,630 flats will be provided through the sale of four residential sites in Q4. The sites are located in Tai Po, Lantau and Kai Tak with the Tai Po site requiring the successful bidder to develop a 100-place residential care home for the elderly.

Also read: Government urged to boost home density in Kowloon and New Territories

A total of six residential sites have been up for sale by the government as of end-September, secretary for development Michael Wong said in a statement. 

With the inclusion of the Mass Transit Railway Corporation and Urban Renewal Authority projects, supply from private development and redevelopment projects, and supply in the third quarter, the total estimated number of flats provided in the first three quarters will be about 9,840.

Also read: Residential projects dominated construction works in Q2

“We will do the best we can in the remaining time of this year to provide the supply. At this stage, I would not make any conjecture, but you can safely assume that in the fourth quarter, we will be providing more land that would be capable of providing more private housing units than the first three quarters,” added Wong.

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