Private flat supply estimated at 109,000 units in next 3-4 years

The new estimate is 2,000 more than the previous forecast.

The Housing Bureau said there will be 109,000 units of private flat supply for the next three to four years, 2,000 more than the previous estimate.

The increase is likely due to the 20,000 unsold units in completed projects at the end of 2023. 

“There were also 71,000 units under construction, excluding those pre-sold by developers, and 18,000 units from disposed sites where construction may start any time,” the Housing Bureau added.

In 4Q23, there were 5,500 flats under construction and 3,800 completed units.

In addition, the total number of private residential units in 2023 fell 34% to 13,900 YoY.