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12/5 News Roundup: Private Domestic Supply To Soar Next 3 Years, SHK Refuses to Build Tiny Flats

  • By
  • Asif Ghafoor
  • December 5, 2016

Sing Tao: Private Domestic Supply To Soar Next 3 Years
According to government’s latest internal statistics, the completion of private domestic units will remain high in the next three years, reaching 22,000 to 25,000 per year, the local newspaper Sing Tao Daily claims. The supply will expand to 24,000 soonest next year and the source claimed that it would reach the most supply in 2018 and hopefully could resolve the housing problem of local citizens.

Sun Hung Kai Refuses to Build Tiny Flats
Kwok Kai-wang Christopher, Executive Director of Sun Hung Kai Properties said the company would continue to develop projects and buildings in finest quality, with leading applications of technologies. Being asked about the trend of building tiny units by other developers, he said the company always puts clients in the first priority and designs flats according to information of past projects and customers, so as “to make clients happy”. According to Sun Hung Kai’s website, the company’s motto is “Building Homes With Heart”.

First Hand Transactions Heat Up Over Weekend
Hang Lung Properties sold all 62 flats available at Tai Kok Tsui project The Long Beach on the weekend, with an average price per saleable square feet of HK$15,246, making first hand transactions over the weekend increased three times to over 100 deals. However, the cooling measures continue to hit the secondary market. Statistics from Centaline Property showed only 8 transactions were recorded during the weekend at the 10 major estates while 6 of the 10 housing estates recorded zero weekend transactions.

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