HONG KONG (XFN-ASIA) - The government expects 10,980 new private apartments to finish construction and be ready for occupation this year, against 10,470 units last year, according to a report issued by the Rating and Valuation Department.
Apartment completions are expected to rise further to 12,670 units next year, the report said.
Completions refer to units that have finished construction and are issued occupancy permits.
About 46 pct of the new units completed in 2008 would be located in New Territories and 40 pct in Kowloon, according to the government report.
So much for the supply shortage......