Question of supply
Some projects are near completion, but the number of homes to be released is unknown.
If there is one thing most experts agree on, it is the need to increase the supply of homes.
The government target for next year is 20,000 units in the private sector, and 15,000 in the public sector, according to Paul Chan Mo-po, Secretary for Development, who is responsible for land supply policy.
Property experts estimate that there will be a potential supply of slightly more than 20,000 private sector flats in the pipeline for the new year, based on developers' construction schedules. However, the final number of flats to be released for primary sales will depend on market conditions, as project launches may be delayed amid uncertainty.
The supply of large flats, especially those in the traditionally lavish districts of Hong Kong Island, will be significantly less than small- and medium-sized ones, which may cause the luxury sector to outperform the mass market.
According to Midland Realty, more than 40 new residential projects under construction may be launched by developers in the new year, involving a total of 20,221 units.
The New Territories will contribute the largest supply with 15,300 units in 20 projects. Hong Kong Island will provide the least, with only nine small-scale new projects involving 2,365 units.
