American League: The number of private homes completed in Hong Kong in June was 3,532 units, a record high of 8 months

The Zhitong Finance App learned that according to the Midland Property Research Center's comprehensive data from the Hong Kong Buildings Department, the number of private residential buildings completed in Hong Kong in June was 3,532, up about 3.37 times from 809 units in May, and reached an 8-month high.

Construction volume soared in June, mainly due to the completion of several new properties during the month, including Wong Chuk Hang Station (447 units) and Chen Chen II (378 units), Central Yayingfeng (99 units), Cheung Sha Wan BELGRAVIA PLACE Phase II (248 units), Wong Tai Sin Wai Sen Wai Chun (195 units), Kam Sheung Road Bai Long III (680 units), Kwu Tung Beidu (682 units), Hung Hom Hyde Garden Phase II (258 units), Prince Edward Park in Chai Wan (258 units) Prince One (139 units), Ho Man Tin Wang Jing (91 units) and Sheung Wan Hollywood Road 165 project (55 units).

Midland Property analyst Shen Songqian pointed out that there was a sharp increase in the number of completed units in June, which led to a cumulative total of 7,914 units recorded in the first half of this year, but the year-on-year decrease of 10,063 units was still about 21.4% compared to the same period last year. Compared with the Hong Kong Rating and Property Valuation Department's forecast target of 16,975 units completed this year, the first half of the year's completion volume accounts for about 46.6% of the annual target. Although many new properties are expected to be completed in the second half of the year, even if the target is finally reached throughout the year, the annual number of completed units will still be reduced by about 8% compared to last year's 18,448 units; more importantly, the Hong Kong Differential Estimation Service predicts that the number of completed units will drop further to about 15,360 units next year, a decrease of about 9.5% over the previous year, reflecting that the peak period of private home completion has passed.

Shen Songqian added that more than 7,900 units were completed in the first half of this year, many of which have been absorbed by the market. According to the Midland Property Research Center's comprehensive first-hand residential property sales information network and market data, as of August 20, out of 7,914 units completed in the first half of this year, about 5,328 units have been sold, with a sales rate of about 67.3% (see table). The remaining 2,586 units are for sale.

If divided into 3 districts, the district with the highest number of completed units in the first half of this year was the New Territories, with 3,337 units sold, with a sales rate of about 66.1%; in the Hong Kong Island region, 1,808 units were completed in the first half of the year, of which 1,352 units were sold, with a sales rate of 74.8%, the top of the three regions; as for the Kowloon district, about 1,061 units were completed in the first half of the year, with a sales rate of about 60.2%.