73,000 flats to be available in the next few years, marking 8-year high

Posted: Jul 28 2014Last Updated: Jul 14 2017
Record High Construction26 July 2014 - The Government has been actively launching residential sites in recent years. According to figures from the Transport and Housing Bureau, construction began on 12,300 private housing units during the first half of 2014. This is the highest figure since records began in 2004. The figures showed that 73,000 flats will be available in the next three to four years which will mark an 8-year high.
Sources on the market remarked that the supply of new private homes is on the rise as the Government has been pushing ahead with its land sales programme in the past year. The number of available flats is also increasing with developers focusing on smaller units. It is expected that developers will need to set attractive, relatively low prices for these projects.
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