Lijia Ge Real Estate: This year's private residential completion volume is slightly higher than expected, estimated to reach at least 21,000 units

Chen Haichao, head of the research department at Lijia Ge Real Estate, stated that the progress of private residential construction in 2025 is orderly. Last year's completion of private residential units accounted for only about 88% of the 20,862 units predicted by the Rating and Valuation Department. Some materials from projects completed last year may be delayed until this year, so it is expected that the completion of private residential units this year may be slightly more than the Rating and Valuation Department's initial forecast of 20,098 units, potentially reaching between 21,000 and 22,000 units.

According to the latest data released by the Buildings Department today, there were a total of 3 private residential projects with 3 units commenced in December last year, marking the lowest number for any single month. The projects include 12 Muk Sing Road, Jardine's Lookout, 115 Boundary Street, Kowloon Tong, and Pak Sha Wan, Sai Kung. In addition, the Buildings Department has recently revised the commencement projects for August and September last year, adding the To Kwa Wan Hung Fook Street/Kai Ming Street project and 5 Lok To Street, which brings the total number of units commenced for the entire year to 9,102, an increase of nearly 81% compared to 5,030 units in 2024, returning to a more normal level.

Regarding the completion of private residential units, the latest monthly report released by the Buildings Department shows that in December last year, there were a total of 5 projects with 892 private residential units completed, an increase of over 1.3 times compared to 383 units in November; for the entire year, there were 60 projects involving 18,450 private residential units completed, reaching 88.4% of the Rating and Valuation Department's original annual forecast of 20,862 units, a decrease of nearly 24% compared to 24,263 units in 2024