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February 24, 2020

93K private flats projected

The projected private flat supply for the next three to four years is 93,000 units, unchanged from the previous estimate. The Transport & Housing Bureau on February 4, 2020 said there were 10,000 unsold units in completed projects at the end of December. 
     There were 61,000 units under construction, excluding those pre-sold by developers, and 22,000 units from disposed sites where construction may start anytime. The number of flats under construction in the fourth quarter of last year was 4,000, while the number of units completed for the period was 3,500. Click <here> for details.
     The Lands Department recently said it registered eight lease modifications and two land exchanges in the Land Registry for the quarter ending December 2019, of which four were technical changes involving no premium.
     Six transactions were located on Hong Kong Island, one in Kowloon and three in the New Territories. Another three lots in Chai Wan, Tsing Yi and Sha Tin were granted to the Housing Authority by private treaty for public housing developments.
     The transactions realised a total land premium of about $586.14 million.