The completion volume is not up to standard and the vacancy situation is underestimated. What happened to the Hong Kong private property market?

Earlier, we discussed the 10-year public housing supply target of the "Long Term Housing Strategy" (hereinafter referred to as the "Long Strategy"). Because the authorities lowered the subsequent estimates and the actual performance was not as good as expected, it could not be regarded as "up to the standard."

However, the "Long Strategy" actually sets targets for the supply of private housing. However, since the role of the government in the development of public housing is far greater than that of private housing, discussions in the community tend to focus on the former and ignore the latter.

Although the target figures of the "Long Strategy" have been lowered, the tightness of private housing supply in Hong Kong may not be lower than that of public housing.

In March this year, the Legislative Council Secretariat published a research briefing on the "Impact of Home Ownership on Hong Kong’s Social Economy". The actual average annual housing production of about 13,500 units in the past 10 years shows that the supply is still tight." In April, the Unity Hong Kong Fund also published "Scatch the day and night to solve the "three lows" knots of land; vigorously and vigorously, the supply is "dried up." The Dilemma" Land and Housing Policy Report predicts that "between 2026 and 2030, only 12,000 units will be completed each year, which is 20% less than the 15,000 units from 2021 to 2025, and is also better than the annual average of 15,000 units from 2021-2025. The average target is 12,900 units less."

For details, please read the 297th "Hong Kong 01" Electronic Weekly Newsletter (December 28, 2021) "

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