Page 13 - LH_Research_Report_2020_Eng

A cumulative shortfall of 23,300 units in the past seven yearsumulative shortfall of 23,300 units in the past seven years
A c

(Figure 4) Shortfall in the completion of private residential units, 2013–2019 [1]
(Figure 4) Shortfall in the completion of private residential units, 2013–2019 [1]

20,000
Supply target as specified in 2017 LTHS: 18,000 units
20,000 Cumulative
Supply target as specified in 2017 LTHS: 18,000 units shortfall:
Cumulative
2013 2019 average: 14,700 units2019 average: 14,700 units
15,000 2013 _ _ 2013 2019 average: 14,700 units2019 average: 14,700 units 23,300 units
shortfall:
_ _
Number of units 10,000 Taikoo Shing Estate)
2013
(≈1.8x
23,300 units
15,000
Number of units
(≈1.8x
Taikoo Shing Estate)
10,000
5,000
5,000
0
0 2013 2014 2015 2016 2017 2018 2019
Note: [1] Starter Homes units included 2014 2015 2016 2017 2018 2019
2013
Sources: Rating and Valuation Department, Buildings Department, Lands Department, Town Planning Board, company data from various
developers, and Our Hong Kong Foundation
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
Peering into the period for 2013–2019, the deficit between annual completions and the LTHS’s old target of 18,000 units, net of
the surplus in 2018, totals to a cumulative shortfall of 23,300 units.

In other words, over the past seven years, the supply of private homes has fallen short of the LTHS’s projected
housing demand by almost the scale of two Taikoo Shing Estates.

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