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Figure 1. Completion of new private housing units

Sources: Rating and Valuation Department, and Our Hong Kong Foundation.

Table 1: Private residential units completed, 2015 to 2019

Source: Our Hong Kong Foundation.

However, it should be noted that behind the increasing number
of private housing units, the actual residential space, as measured in
Gross Floor Area (GFA), has not actually increased significantly. Firstly, the
estimated private housing space for the period 2016 to 2019 averages to be
some 13 million sqaure feet (sf). This is only less than 30% higher than the
figure in 2015, compared with the aforementioned 60%-increase in terms
of number of units. Secondly, the estimated private residential GFA to be
completed is 12.6 million sf in 2016, and is expected to register some slight
but persistent declines afterwards to 11.8 million sf in 2019, notwithstanding
the fact that the expected private housing unit completion is higher in
2018 and 2019. This shows that the average private housing unit is actually
becoming smaller (Table 1).

OHKF publishes the estimated completion of private housing units
in the next four years and the information of each development project by
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