Last month, 75 households applied for pre-sales and hit a 9-month low

There are signs of a slowdown in the pace at which developers apply for pre-sales

The Lands Department received only two applications for pre-sales in July this year, involving 75 units. The number of units was the nine-month low since October last year. The number of units to be approved was the first drop since November 2017. Wearing 10,000 people, as of the end of last month, only 9979 were recorded, belonging to a 20-month low.

To be approved for the first two years of the first floor of the building

The Lands Department announced that there were only two new applications for pre-sale consents in the last month. Among them, the Emperor International (00163) led the consortium to spend more than $2.7 billion in May 2014. The Pit-Road junction luxury residential project was applied for pre-sales last month. It is expected to provide only 15 people. It is expected to be completed by the end of this year. As for Yong Yi International (01218), it will apply for pre-sales at 14 to 20 Yanwen Lidao Road, Kowloon Tong. It will be completed by the end of June next year and has 60 units.

In July, two other properties were approved for pre-sales. The total number of units was 916, but the number of 1502 people recorded in June was about 39% lower

Among the projects approved for pre-sale last month, 840 were from Yingriwan Bay, which was the first price list yesterday. The remaining 76 units were the Deep Water of the Urban Renewal Authority, which was acquired by Tegent Property (00199) at the end of 2015. Haiper, 205-211A, Haitan Street, is expected to be completed in April next year.

As the number of approved pre-sale units is higher than the number of new pre-sale units, the 26 pre-sale consents processed by the Lands Department are only 9979, which is about 7.8% less than the 10,820 at the end of June; The number of units to be approved has been maintained at more than 10,000 people for 19 consecutive months since December 2017, and the cable was finally broken in July.

Zhang Yulei, senior manager of Midland Real Estate Data and Research Center, pointed out that about 67.5% of the units to be approved were completed in 2021, accounting for 6,738 people; 2,484 units were to be completed in 2022, with a ratio of 24.9%. As for the units to be approved that have been completed for less than one and a half years and are expected to be completed by the end of next year, there are only 757 (about 7.6%).


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