Hong Kong Housing Department: Potential supply of first-hand residential units in Hong Kong to increase to 104,000 units in the next 3 to 4 years.

Although the property market in Hong Kong is active in 2025, the potential supply of first-hand residential units is continuously increasing due to developers actively exchanging land by paying additional land premium and the reemergence of land sales. According to the latest announcement by the Hong Kong Housing Authority, as of the end of December 2025, the potential supply of first-hand private residential units in the next 3 to 4 years is estimated to be around 104,000 units, compared to about 102,000 units announced in the third quarter of last year, an increase of about 2000 units, marking a consecutive increase for two quarters. Driven by the hot market for first-hand sales, there are about 23,000 unsold first-hand units in Hong Kong, a decrease of about 3000 units compared to the previous period. Meanwhile, the number of unsold units under construction has also decreased by 1000 units to about 61,000 units. The number of units ready for immediate construction on approved land has increased by about 6000 units compared to the previous period, with the latest figure at around 20,000 units. In terms of construction volume, approximately 1900 private residential units were completed in the fourth quarter of last year, an increase of about 1.4 times compared to the third quarter of the year, but the total construction volume for the year was only about 8800 units, a significant decrease of 11,000 units or 56% from 2024. The number of private residential units completed in the fourth quarter of last year was about 5100 units, an increase of 1800 units or 55% compared to the previous period. The total number of units completed for the year was about 18,400 units, a decrease of 5900 units or 24% from 2024.