The completion of private residential units in Hong Kong last year fell to 18,400 units, meeting 88% of the target

The latest "Monthly Supplement of the Hong Kong Property Report" from the Rating and Valuation Department shows that the total completion of private residential units last year was 18,448, a year-on-year decrease of 5,813 units or 23.96%, only reaching 88.4% of the department's annual forecast.

Calculating for the entire year, nearly half of the completed units came from the Kowloon district, accounting for 9,002 units or 48.8%, with Kai Tak being a major supply hub. The New Territories had 6,626 units, accounting for about 35.9% of the total completions. The Hong Kong Island district only had 2,820 units completed, accounting for about 15.3%.

In terms of unit area, the completed units last year were still dominated by smaller units. Among them, units with an area of approximately 431 square feet or less totaled 9,859 units, accounting for about 53.4% of the total; followed by units with an area of 432 to 752 square feet recording 6,565 units, accounting for about 35.6%; units with an area of 753 to 1,075 square feet accounted for approximately 1,245 units, or about 6.7%; units with an area of 1,076 to 1,721 square feet had 614 units, accounting for about 3.3%; and units with an area of 1,722 square feet or more only had 165 units completed, accounting for about 0.9%