According to a Hong Kong government report last year on long-term housing strategy, the target for total housing supply in the next 10 years has been adjusted down from 450,000 to 430,000 units. The number of private houses within this will fall from 135,000 to 129,000 units.
In other words, the supply of private residential units in the coming decade will be roughly 13,000 per year.
This is undoubtedly bad news for many Hongkongers, who have set home ownership as one of their lifetime goals…
Source : South China Morning Post
Read more…Far more flats are needed than are planned in the Hong Kong government’s long-term housing strategy
