Property News · January 7, 2020

Hong Kong government falls well short of target for completion of new flats as protests, vacancy tax cause construction slowdown


The Hong Kong government looked likely to fall well short of its 2019 target for completion of new flats, according to official data released on Tuesday.By the end of November, it had achieved just 63 per cent of the full-year target, with analysts blaming a slowdown in construction as escalating anti-government protests in the second half of the year hit the economy and sapped demand for new homes.A total of 12,925 new flats had been built as of November 30, well shy of the government forecast…

Source : South China Morning Post
Read more…Hong Kong government falls well short of target for completion of new flats as protests, vacancy tax cause construction slowdown

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