The Government announced today (May 24) that the actual supply of private housing land in 2023-24 has a capacity to produce around 15 410 flats in total, higher than the estimation of around 14 000 flats in February this year when announcing the overview for the financial year. The increase is mainly attributed to the private development projects not requiring lease modification recorded in the fourth quarter of the financial year. The total supply has exceeded the annual supply target (12 900 flats) by around 20 per cent. This figure has taken into account the private housing land supply from all government land sale and projects of the Urban Renewal Authority, as well as private development/redevelopment projects in the financial year.
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