Private housing supply could reach 100,000 in four years

About 91% of units are small- to medium-sized.

The Housing Bureau forecasts private housing supply for the next three to four years to reach 100,000 units, higher than the previous estimate of 96,000 units. 

The bureau said there were 19,000 unsold units in completed projects by the end of September.

There were also 62,000 units under construction, excluding 6,000 units sold by presale. There is also 19,000 units from disposed sites where construction may start at any time.

Expected supply totals 100,000, of which about 91,000 (91%) are small- to medium-sized units with a saleable area below 70 square metres.

Of these, 10,800 units from ten sites are also anticipated to be converted into disposed sites in the coming months.

Around 2,800 private units commenced construction, whilst over 1,700 units were completed in the third quarter.