Record supply to hit Hong Kong property market following government land sales
The supply of new homes to the Hong Kong property market is forecast to increase over the coming four years, with government data showing that 86,000 new private unsold homes will hit the market during that time; this would constitute a record level of private homebuilding. Reports suggest that this is due to the government's acceleration of a plan to sell off public land for development. Numerous investment banks have recently warned that Hong Kong's property market is set for price declines, with CLSA saying earlier this month that prices will fall 17% over the next 27 months; this new data only appears to reinforce these points.

Official forecasts are for 86,000 unsold homes to be delivered onto the market in next four years