Summary
[The construction volume of private residential buildings in Hong Kong in 2022 hits a new high in 18 years]The Rating and Valuation Department of the Hong Kong Special Administrative Region Government released the “Hong Kong Property Report” on the 31st. Preliminary statistics show that the number of completed private residential buildings in Hong Kong in 2022 will be 21,170 units, a record high in 18 years and a year-on-year increase of 47%. 61% of them are in the New Territories, while Kowloon and Hong Kong Island account for 27% and 12% respectively. The Rating and Valuation Department predicts that the number of completed private residential buildings in Hong Kong this year will be 19,950 units, a year-on-year decrease of nearly 6%, but it is expected to rebound significantly by 35% to 26,970 units in 2024.
The Rating and Valuation Department of the Hong Kong Special Administrative Region Government released the “Hong Kong Property Report” on the 31st. Preliminary statistics show that the number of completed private residential buildings in Hong Kong in 2022 will be 21,170 units, a record high in 18 years and a year-on-year increase of 47%. 61% of them are in the New Territories, while Kowloon and Hong Kong Island account for 27% and 12% respectively. The Rating and Valuation Department predicts that the number of completed private residential buildings in Hong Kong this year will be 19,950 units, a year-on-year decrease of nearly 6%, but it is expected to rebound significantly by 35% to 26,970 units in 2024.
(Article source: Financial Associated Press)