Hong Kong's Wen Wei Po News (reporter Ngan Lun Lok) Government increase land supply in recent years,driving up construction volume,BD latest data show that 1,907 private homes start the construction in June,apart from on a monthly basis rose 27 percent outside,also hitting a 14-month high.Although it hit a new high in a single month,but only 5,757 units started the construction in the first half of year,compared to last year's 9,342 partners decreased significantly 38%.The industry expected the progress of the construction need to catch up in the second half of year,or are likely to start in negative growth.
The amount of constructions are still falling in the first half of year
Ricacorp Properties head of research Chou Moon Kit said,there were five private residential projects commenced partnership involving 1,907 units (excluding Kiang 18th Street Project repeat cases) in June, compared with 1,496 partners in May increased by 27%,hitting a 14 month high. However,consolidated figures in the first half of year,construction volume still got 5,757 partners only,compared to 9,342 last year partnership reduced by 38%,reflecting the fact that the construction's process is still slow.
Chou Moon Kit said,the government land sales become increasingly frequent in recent years,and many lands have provisions the limited volume and feet,in order to increase the number of units of the project, and several railway projects are also estimated to be commenced during the year,in theory,should hasten construction volume.However,prices of construction materials and wages continued to rise in recent years,coupled with the unknown and the property market after the capricious weather,eading to the private residence of progress remains slow,it was believed that if the situation continues,there will appear negative growth in the amount of constructions in this year.
Statistics show that there are five private homes start the construction in June,the largest-scale project located in Tseung Kwan O Area 66A,960partners and a total number of units on the 5th Kai Yuen Street,North Point, Kai Yuen-ri and Kai Yuen Lane project,the number of units 611 partners.
Completed flats of private residence property recorded a new low in the first half of year
As for the completions,since the early years of the Application List system impact,remained at very low levels in June,there are only a
private residence built for the Mid ARGENTA,number of Units 30 partners,compared with May only a slight change in partnership.Completed flats of private residence property recorded only 1,485 partners,representing a 35% reduction of 2,279 partners,but also hit a new low in record,with construction volume can be described as "one day a place." Government forecasts for full-year figures, it occupies only 13,551 private house completions for 11% of partners,far from progress should reflect the new supply is still inadequate.
In addition,the Buildings Department approved 19 building plans in June,involving sizeable pieces of land.Which Cheung Kong bid for the Oil Street integrated development of land in 2011 to $6.2672 billion HKD,approved in four basement levels,the construction of three blocks of 30-storey,three blocks of 33-storey and one block of 34-storey residential property and hotel with leisure facilities involving 432,500 feet of residential space,non-domestic floor of 322,900 feet.According to the TPB information,the projects were expected to provide 400 residential flats and 800 hotel rooms.
Tai Po Tsai project of the New World which located in Sai Kung have approved the major amendments project plans.Compared to the original proposal in the end of 2011,layered residential maintain 27 blocks,but the height from 6 to 8 layers changed into 5 to 8 layers,6,221 feet of residential space has increased to 1,056,760 feet,the mall project by three two-storey,changed into a block of four layers,clubhouse replaced by a 2 blocks od 3 layers changed into one block of 2 layers,so the non-residential floor have cut 4,469 feet to 16,950 feet.
Meanwhile,Kerry bid the limited land of Castle Peak Road,So Kwun Wat,Tuen Mun Area 48 in $2.739 ten billion HKD last year,neither is quasi-built 9 blocks of 7 layers,6 blocks of 13 layers and 5 blocks of 18 layers residential apartment,as well as 43 houses,in residential floor area of approximately 940,000 feet,and the non-residential floor area of approximately 2,762 feet.Total number of the units is not less than 1,100 partners.
