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Nearly 17,000 people at the end of the first hand
Aug 30, 2023
Nearly 17,000 people at the end of the first hand Hong Kong
By   Wen Wei Po 
  • City News
  • Transaction Quotes
  • Hong Kong Property
  • Hong Kong Housing Market
Abstract: The number of new flats in the first-hand market is nearly 17,000, and developers have no choice but to sell at low prices.

According to agent statistics, as of July 2023, 16,896 units were sold out of new developments launched in 2016 and after.

 

Among them, SHKP and Henderson Land have the largest number of units in stock, accounting for nearly 40 per cent in total. SHKP had 3,271 units, accounting for 19 per cent.

 

Henderson Land has 2,982 units, accounting for 18 per cent. 16 per cent, 26 per cent and 32 per cent of the units for sale are 2-bedroom, 3-bedroom and 4-bedroom units or above respectively, while SHKP has the largest share of open-plan and 1-bedroom units. Henderson Land accounted for the most open-plan and 1-bedroom units, accounting for over 40% and 30% respectively.

 Nearly 17,000 people at the end of the first hand

Yang Mingyi, Senior Associate Director of Research at Centaline Property, pointed out that among the five major developers (Cheung Kong, Henderson Land, New World, SHKP and Sino Land), SHKP and Henderson Land have a larger number of units, while New World and Cheung Kong are obviously smaller, with only 530 and 281 units, accounting for only 3% and 2% of the market.

 

By room type, the largest number of 2-bedroom flats for sale in Hong Kong is 5,302, accounting for more than 30% of the market, or 31% of the total. This was followed by 3-bedroom flats with 4,648 units (28 per cent), 1-bedroom flats with 3,778 units (22 per cent) and 4-bedroom flats or above with 1,921 units (11 per cent). Open-plan units were the least popular, with only 1,247 units, or 7 per cent.

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Nearly 17,000 people at the end of the first hand
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