Hong Kong residential construction hits 16-year high
According to Bloomberg, the construction of private residential units in Hong
Kong reached a 16-year high in 2016.
The Transport and Housing Bureau announced that developers started building a total of 25,500 private apartments in 2016, an increase of 80% from 2015. The bureau further stated some 94,000 units will become available to buyers in the next three to four years.
Additionally, construction started on approximately 6400 private units in Q4 of 2016, which was more than double what it had been in the previous three months
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