Completed 15,700 units last year and will supply 74,000 units the next four years
Hong Kong Wun Wei Po newspaper (reporter Nhan Lun Lok) Transport and Housing Bureau announced yesterday that last year the amount of private buildings completed 15,700 units, surge 89% yoy,hit eight-year high record,at the same time, the next 3-4 years to maintain the potential supply 74000 units, of which 66% are small and medium units, the message on a public drunk who continued to rise in prices of fantasy undoubtedly wake-up call. Some scholars have pointed out that the biggest reason for rising prices is in short supply, but the government continued to increase land supply,so the situation has begun to reverse, although the 'distant water failed to put out the fire nearby', with increased supply, prices will result in long-term pressure, high-risk market,so it must be aware of.
Financial Services and the Treasury Bureau Secretary KC Chan said yesterday that the property market is affected by several factors, such as private building completions, o the government is trying supply of land in the past, has also started a long-term supply strategy paid off. But still there are many factors affecting the property market, there is a low interest rate environment, recently met more people buy units which involved in small amount of price,property prices rise,hoping we have to consider the risk of buying property.
Completed over 15,000 units annually,surge of more than 60%
Transport and Housing Bureau announced yesterday the latest copy of 'private residential primary market supply statistics', which shows the fourth quarter of last year, 3,500 completions units,fell 25.5 percent on a quarterly basis, although the last quarter completions fell, but the summary annual completions were recorded in 2014 15,700 units,when compared with 8,300 units recorded in 2013,surged about 89 percent,hit a record high since 2006. Midland property, principal analyst Lau Ka Fai said that last year completed a number of large new residential projects,drive innovation and high completions, also reached the government originally forecast 17,614 units, nearly 90%. As for this year, although the government is expected to drop to about 12,660 units in the annual decline of about 2 percent, it is estimated that next year will rise again to about 18,000 units in an average of three years (2014-2016), the annual estimated that over 15,000 completions units,before comparing three years (2011-2013) the average of about 9,000 units in a substantial increase of about 60-70%.
The amount of construction doubling in the last quarter,amounted to 17,300 units by year
Under the government continues to increase the supply situation,will see a sharp rise in the amount of construction. Construction on the quarter amount of 3,400 units in the quarterly rise of 1.1 times the annual construction amounting to 17,300 units,rose 22.7%, to the past three years (2012 to 2014) to calculate the amount of construction, has recorded a total of 50,000 units,compared to the previous three years (2009-2011) of 31,900 units,soared about 57%,this grant project will be completed in the coming one after another,to predict the future trend is bound to increase in completions.
Transport and Housing Bureau also mentioned that there are new large-scale residential project put up for sale (TKO-Hemera),which cause thecompleted unsold units quarterly increase of 1,000 units to 6,000 units,in the previous quarter, but the developers keep on launching out the property sales actively , many uncompleted units were absorbed market, building unsold units reduced 1,000 to 53,000 units,in the two offset, the next 3-4 years of first-hand private residential property supply to maintain a record high of 74,000 units,of seven consecutive quarter high 70000 units or above the level,with the average annual supply of 18,500 to 24,667 units.
New property sales keep on launching out for sale,the first-hand property transaction hit 7-years high record
It is worth noting that last year the number of first-hand private buildings were a total of 16,822 registered cases,hit a seven-years high record,but the future first-hand property supply of private property has never been less,the increase is more than a year ago,reflecting the developers add units faster than units sold faster,also reflects the Government to increase the supply of taking effect.
The transactions of the units which involved in small amount of price recent surge,triple the price, but the market must be alert to the next surge in the number of small and medium units. According to the Housing Authority to provide information on transport, 74,000 potential suppliers and as many as 49,000 units with salable area less than 70 square meters (753 square feet) of small and medium units,accounted for the total supply of about 66%,1000 units more than the previous season.Predict the next few months will again have 17 residential lands changed into cultivated land,provide totaling about 15,000 additional units and the potential supply will continue to rise.
