According to Mr Wong Leung-sing, Senior Associate Director of Centaline Property Research, the estimated number of private residential completions in 2023 will be 20,377, a year-on-year decrease of 791, or a slight drop of 3.7%.
In 2022, there will be 21,168 units, and the number of completions in the past two years has reached over 20,000, with an average of 20,773 units. The supply of private housing is expected to remain stable, at 20,000 units per year from 2023 onwards.
A total of 84 projects are expected to be completed in 2023, providing a total of 20,377 units. It is forecast that the annual supply of new flats will remain at 20,000 units in the future, breaking away from the fluctuating completion figures of 14,000 or 21,000 units per year in the past five years (2018 to 2022).
There are 35 projects in the New Territories, with a total of 11,049 units. The number will remain high at over 10,000 units for two consecutive years.
The districts with more completions are mainly in New Territories West: Tuen Mun (3,768 units), Tin Shui Wai (1,917 units) and Yuen Long (1,747 units).
In Kowloon, there are 31 projects with a total of 7,978 units.
The figure is close to 8,000 units, an increase of 2,284 units or 40% year-on-year, which is a record high in the past 19 years.
The districts with more completions were Wong Tai Sin (2,809 units), Kwun Tin (1,974 units) and Cheung Sha Wan (1,415 units).
On Hong Kong Island, there were 18 projects with a total of 1,350 units. This represents a year-on-year decrease of 1,113 units or 45%.
The districts with a higher number of completions were North Point (420 units) and Mid-Levels (292 units).