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Developers build 22,131 flats in first nine months

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Developers completed 22,131 private housing units in the first nine months, accounting for nearly two thirds of the year's forecast supply, according to preliminary government statistics.

Figures from the Rating and Valuation Department show that completed flats in the first nine months represent 61.4 per cent of the forecast completion of 36,057 for the whole year.

As usual, small and medium-sized flats constituted the bulk.

Analysts said there was a 50 per cent chance the Government's forecast completion would be achieved. Some expected full-year supply to be slightly short of the prediction.

Initial forecasts put next year's completion of private-sector flats at about 31,300.

In the first nine months, New Territories completions contributed to 81.1 per cent of total supply, with 17,954 units.

There were 2,526 completed flats in Kowloon areas, or 11.4 per cent of the total. On Hong Kong Island, completions were 1,651, accounting for 7.5 per cent.

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