Private flat supply pegged at 105,000 units in next 3-4 years
The figure is 10,000 more than the previous estimate.
The Housing Bureau said there will be 105,000 flats available in the next three to four years.
The new estimate is 10,000 more than the previous forecast of the bureau.
The increase in expected flats was likely due to the 16,000 unsold units in completed projects at the end of December 2022.
“There were also 66,000 units under construction, excluding those pre-sold by developers, and 23,000 units from disposed of sites where construction may start any time,” the Housing Bureau added.
“The number of flats under construction in the fourth quarter was 5,400, while 4,600 units were completed during the period,” the bureau added.
In 2022, the bureau completed 21,200 private residential units, which is 47% more compared with the figure in 2021.