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Slowdown in supply is witnessed in every step of the lowdown in supply is witnessed in every step of the
S
development cyclevelopment cycle
de

(Figure 9) Slowdown witnessed in various stages of private housing development cycle

Land acquisition
Estimated number of units Construction
on spade-ready sites in
2019/20: 12,190
No. of superstructure
commencements in Property sale
-16% since 2018/19
-53% since 2017/18 2019: 12,690 No. of presale
-44% since 2017 consents issued Completion
in 2019: 14,140
No. of units
-35% YoY completed in 2019:
A record low in 4 years 14,093 [1]
Average development cycle
[2]
(from land acquisition to construction completion) -33% YoY
A record low in the
4.5 years 8 years past 4 years
(present) (by 2024)

Notes: [1] 450 Starter Homes units included
[2] The average development cycle is calculated based on 268 housing projects that are to be completed in 2020 to 2024.
Sources: Development Bureau, Rating and Valuation Department, Buildings Department, Lands Department, Centaline, and Our Hong Kong Foundation

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