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Future completion unable to catch up with past shortfalluture completion unable to catch up with past shortfall
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(Figure 3) Completion of private residential units [1]

40,000 1990—2006 2007—2012 2013—2019
Average: 26,000 units Average: 9,900 units Average: 14,700 units
35,000
2020—2024
30,000 Estimated Average:
16,000 units
Number of units 20,000 18,000 units
25,000

15,000
10,000

5,000

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Note: [1] Starter Homes units included
Sources: Rating and Valuation Department, Buildings Department, Lands Department, Town Planning Board, company data from various developers, and Our
Hong Kong Foundation
The housing supply target of private housing in the LTHS has been axed to 12,900 units since the Government revised the
public/private split from 60:40 to 70:30 in 2018. Although the estimated annual average completion of 16,000 units is higher
than the latest target of the LTHS, the LTHS supply target has neglected past shortfall when it rolled over the ten-year housing
supply target.
Prior to the adjustment, the supply targets for the LTHS had hovered around the level of 18,000–19,000 units per year since the
LTHS was first published in 2013. We use 18,000 units, which were also the LTHS supply targets for 2015–2017, as an indicator
of the LTHS’s old target. Comparing the actual completions with the supply target of 18,000 units for 2013–2019, it is shown that
past completions have been falling short of the supply target, except for year 2018.

The situation has become daunting, since the estimated future completion of 16,000 units is still insufficient to
make up for the past shortfall.

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