Hong Kong's Wen Wei Po News ( reporter Ngan Lun Lok )Government's Application List system in the early year,ignoring the long-term supply, the negative impact appeared.The Buildings Department announced yesterday announced July private residential completions "zero",is 20 years for two times,the last time "no completion" dates back to three years ago.Since very few completions,only the first seven months of this year 1,485 partners,representing 2,428 gang fell 39 percent,a record low in the history of the period,but only 13,551 partners completed a full year forecast 11%,far from progress.
Ricacorp Properties head of research Chou Moon Kit said,the government has been increasing land supply actively,but due to the fact that the
early years of the implementation of the Application List system,the small number of real land,coupled with the use of demand management practices suppressed property market,the future property prices remain unknown,the developer slowed the pace of project development,so that it cause the completions at very low levels in the first half of year.
Completed 11% of the amount forecast by the Government
Department yesterday announced July Monthly Statistical Bulletin,no private residential projects during completion of the property occupation permit issued for nearly 20 years since records began in the 2nd recorded "no completion " month. First time in history " sno completion" is the month of May 2010.Statistical figures the first seven months of this year,only 1,485 gang cumulative completions,hitting a new low in the history of the same period,the figures,it occupies only 13,551 full year forecast completions in 11% of partners,estimated that this year the possibility of a lower standard.
Chou Moon Kit said,objective factors involved restrictions,including plan approval,the EIA report,the property market turmoil,soaring construction costs,shortage of construction workers,etc., are so slow growth in completions,showing the progress of the overall private house building project failed to keep up with demand.As new supply is limited,Chou fingers,unless the United States ahead of " pumping",causing interest rates and to increase the downward pressure on prices,or the housing prices will still stabilize at a high level this year.
Construction volume decreased 64% on a monthly basis
As for the private residence construction volume,July only got three projects of approximately 686 partners(before No. 50 Butler Drive retrofitting project part),compared with June's 1,907 partners (excluding Kiang 18th Street Project repeat cases)decreased 64.03%,and the developers believe that the speed of the slow start.The first seven months of this year,construction volume was 6,443 partners,compared to 9,829 last year partnership to reduce 34%.
Three projects werein Yuen Long Sha Po (IV-site Phase 1A),Sha Po (site I-Section 1) and Happy Valley Kwai Fong Street Project No. 1-10, 362 total units were gang,168 partners and 156 partners.Chou Moon Kit finger,the government increase the supply of construction volume in
theory should rise,but prices of construction materials and wages continued to rise in recent years,after the property market and the unknown,some private homes delayed the start of the project commenced with an estimated construction volume this year,or there may be "negative growth".
In addition,the department in July approved 13 building plans,including Nan Fung last year at $6.0 ten billion HKD bid Shouson Hill 8-12 Deep Water Bay Drive,quasi in a basement,the construction of a 17 storey high stratification residential and three four-storey bungalow (with recreational facilities),residential floor 248,400 feet; DCH to $1.668 ten billion HKD last year,real estate acquired 110 Repulse Bay Road next to the land,land of $39,673 HKD per square foot,the history of the ft second most expensive to the king,but also quasi-built eight 4-5 storey mansion (even recreational facilities),a total of 40,550 feet of residential space.
West Kowloon Opera Centre plans approved
Opera Centre West Kowloon Cultural District has approved building plans can be built a 13-storey commercial property,built in two basement levels with a total floor area of approximately 321,700 feet.Billion Group in 2011 to $8.28 billion HKD bid for the business sites Shek Mun,Shatin,also approved in a basement,the construction of a 25-storey commercial property with a total gross floor 430,400 feet.Ideal Group Bulkeley Street, Hung Hom, 179 and 181,approved construction of a 18-storey hotel with a total floor 14,000 feet.
