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For sale: About 61,000 private residential units are available for disposal. |
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There were 5,800 private residential units completed in the year's second quarter, double the first, the Housing Department says. However, only 4,100 units started construction in the quarter, down about 31% on the first.
In the first half of the year construction started on 10,100 units, while 8,600 were completed. The period also saw 4,000 completed units unsold and 10,000 units under construction.
At the end of June there was 18,000 unsold units of completed projects, while 45,000 were under construction, and 2,000 sold by pre-sale, leaving 61,000 units available for disposal. The figure does not include 10,000 units from disposed sites where construction has yet to start.
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