The potential supply of second-hand private residential properties in Hong Kong has dropped to 105,000 units.

According to data from the Hong Kong Housing Authority, as of the end of March this year, the potential supply of first-hand private residential units in the next 3-4 years has decreased to 105,000, a decrease of 2,000 from the end of last year, marking a continuous decline for four consecutive quarters. Among them, there are 28,000 units that have been completed but have not been sold, 65,000 units under construction but not yet sold, and 12,000 units with approved land that can start construction at any time. In the first quarter of this year, the residential completion volume in Hong Kong was 5,500 units, a decrease of 500 units or 10% year-on-year, and a decrease of 7,800 units or 58.65% quarter-on-quarter. The construction volume of private residential units was 3,600 units, a decrease of 700 units or 16.28% year-on-year, and an increase of 1,800 units or 1 times quarter-on-quarter.