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A cumulative shortfall equivalent to 1.6 times Taikoo Shing has been recorded in the past eight years 5,000Figure 6. Shortfall in the completion of private residential units, 2013–2020Sources: Rating and Valuation Department, Buildings Department, Lands Department, Town Planning Board, company data from various developers, and Our Hong Kong Foundation 02013 2014 2015 2016 2017 2018 2019 2020 10,000 15,000 20,000 25,000Cumulative shortfall: 20,500 units( ≈ 1.6x Taikoo Shing)2013—2020 avg 2013—2020 avg.: 15,500 units .: 15,500 unitsSupply target as specified in the 2017 LTHS: 18,000 units per yearNumber of unitsIn the eight years between 2013 and 2020, private housing completions only exceeded 18,000 units in the years of 2018 and 2020. Therefore, if 18,000 units/year is used as an approximate supply target for the period, completions would have missed the target in six times out of a total of eight times. As such, the deficit between annual completions and the supply target totals to a cumulative shortfall of 20,500 units.In other words, over the past eight years, the supply of private homes has fallen short of the LTHS’s projected housing demand by the scale of approximately 1.6 times Taikoo Shing. 12