Page 8 - LH_Research_Report_2020_Eng

H
Housing supply faced a head-on crash and will have bumpy ousing supply faced a head-on crash and will have bumpy
1 rides aheadides ahead
r

(Figure 1) Actual and projected completion of private residential units [1]

Actual completion Projected completion

22,000
2018 estimate:
Annual average completion during 2018—2022 20,800 units
20,000 2019 estimate:
-33% Annual average completion during 2019—2023 18,500 units
18,000 YoY 2018 2020 estimate:
from
Number of units 16,000 actual 16,000 units
Annual average completion during 2020—2024

14,000

12,000

10,000

2016 2017 2018 2019 2020 2021 2022 2023 2024
Note: [1] Starter Homes units included
Private Housing Supply
Sources: Rating and Valuation Department and Our Hong Kong Foundation

A housing supply cliff has already arrived in 2019, which was sooner than expected. Only 14,093
adjusted private residential units were completed in 2019, which were down by 33% year-on-year.

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