Dramatic Decline in July Completions

In a striking development for Hong Kong’s property market, private domestic building completions saw a dramatic drop in July, with only 1,695 units finished. This marks a staggering 36% decrease compared to June's total of 2,637 units, according to the latest figures from the Rating and Valuation Department.

Annual Growth Amid Monthly Setbacks

Despite the monthly decline, the year-to-date figures tell a different story. For the first seven months of 2025, Hong Kong has completed 11,758 private homes, representing a robust 35.1% increase compared to the same period last year. This achievement accounts for approximately 56% of the government's ambitious completion target of 20,862 units, setting a record for this timeframe—one not seen in nearly 20 years!

What Does This Mean for the Future?

As the housing market continues to evolve, the implications of these statistics remain crucial. The combination of a significant monthly decrease against a backdrop of overall growth points to potential challenges ahead for both builders and buyers. Stakeholders will be keenly watching how the remainder of the year unfolds, especially with tighter supply and high demand conditions in play.