Hong Kong Private Housing Completions Plunge 95% in July to Five-Month Low
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Hong Kong's private residential construction sector experienced a sharp slowdown in July 2026, with only one unit commencing construction throughout the entire city. According to data published Monday by the Buildings Department, private housing completions plummeted 95% month-on-month to 186 units from 3,532 in June. The first seven months of 2026 saw 2,668 units start construction and 8,100 units completed, representing year-on-year declines of 47% and 31% respectively. An industry expert estimates full-year completions will reach approximately 17,000 units.
Key Points
- July 2026 recorded just one private residential unit starting construction, a decline of over 99% from 344 units in June, the lowest in five months
- Only 186 private residential units completed in July, down 95% from 3,532 units in the previous month
- The sole construction commencement in July was a single unit project in Sai Kung's Sau Shan Tsuen (LOT1179 DD215)
- Two projects completed in July: Sham Shui Po Medical Bureau Street 138 (140 units) and Kowloon Tong's Bofeng (46 units)
- Year-to-date construction starts of 2,668 units fell 47% from 5,029 units in the same 2025 period, a 16-year record low for the same period
Why It Matters
The sharp contraction in private residential construction activity signals sustained caution among developers amid market uncertainty and rising construction costs. With completions tracking at only 47.7% of the Rating and Valuation Department's full-year forecast of 16,975 units through July, pressure mounts on housing supply to meet demand in the coming quarters .
The sharp contraction in private residential construction activity signals sustained caution among developers amid market uncertainty and rising construction costs. With completions tracking at only 47.7% of the Rating and Valuation Department's full-year forecast of 16,975 units through July, pressure mounts on housing supply to meet demand in the coming quarters .