Hong Kong’s property market continues to experience a shortage of new supply, with the number of completed flats falling to a four-year low last year, but analysts expect supply to pick up in coming years.
Figures from the quarterly report of the Housing Authority show that only 8,300 new private residential units were completed last year – nearly 18 per cent less than 2012. The number also fell far short of the government’s expectation of 13,551 flats for 2013.
Property prices were expected to fall this year following the introduction of the government’s cooling measures in February last year.
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