Economy

HK to increase housing supply by 59,000 units in 4 years

(Xinhua)
Updated: 2011-02-26 14:27
Large Medium Small

HONG KONG - A total of 59,000 residential units will be completed in Hong Kong over the next three to four years, said the authority on Friday.

Speaking at a radio talk show, Secretary for Development Carrie Lam said the supply comes from three sources, units which have been completed and are on sale already, those that are still under construction and those that are developed through lease modifications.

Related readings:
HK to increase housing supply by 59,000 units in 4 years HK's CPI rises 3.6% on food, private rentals in Jan
HK to increase housing supply by 59,000 units in 4 years Hong Kong to increase land supply to curb assets bubbles
HK to increase housing supply by 59,000 units in 4 years HK expects $500m budget surplus for 2011-2012

The figure has already excluded uncompleted units which have been sold.

As many as over 9,000 units were developed through lease modifications last year.

Sometimes a single large-scale project alone can give several thousand units, she added.

Using the average figure for the past five years, she expected more than 4,000 units will be developed or redeveloped in 2011-12 by private developers through lease modifications.

分享按钮