According to Midland Realty analyst Cen Songqian, as Hong Kong's property market conditions improve, developers are accelerating pre-sale applications for their projects to enhance flexibility in future sales deployment. Data compiled by the Midland Realty Research Center from the Lands Department shows that in September, a total of 7 new pre-sale applications for private residential projects were recorded, involving 3,778 units, a month-on-month surge of approximately 235.8% compared to 1,125 units in August, marking a 52-month (over 4-year) high since May 2022.

The projects involved include Fanling Sheung Shui Town Lot No. 297 Phases 1 to 4 (2,290 units), East Kowloon New Kowloon Inland Lot No. 6647 Phases C and D (898 units), and Yuen Long Ho Chau Road No. 28 Phase 2 (590 units).

Cen Songqian noted that among the 7 new applications in September, only one had a pre-sale period of 20 months, while the remaining 6 all exceeded 30 months, including one reaching 36 months (about 3 years), one reaching 39 months (over 3 years), and four reaching 51 months (over 4 years). Since the maximum pre-sale period is 30 months, but many of the above projects are still a long time from completion, this reflects that developers are mainly submitting pre-sale applications early for more distant projects, reserving greater flexibility for adjusting sales pace and strategies in response to market conditions in the future.

On the other hand, in September, 3 private residential projects obtained pre-sale consent, including Phase 2 of Rui Jing (407 units) which was launched in September, Phase 2C(2) of Sierra Sea (522 units) which recently published its price list, and the project at 88 Wing Kwong Street (451 units) earlier named Ti Hai. The 3 projects totaled 1,380 units, a decrease of approximately 26.6% compared to 1,879 units in August.

Cen Songqian stated that since new pre-sale applications in September far exceeded approved units, the cumulative number of units pending pre-sale approval increased by approximately 18.5% month-on-month to 15,378 units. However, 3,768 of these are subsidized sale housing, meaning private residential units pending approval total 11,610. More importantly, among the private residential units currently pending pre-sale approval, 5,049 units involve pre-sale periods exceeding 30 months, accounting for approximately 43.5%, of which 2,290 units exceed 50 months, accounting for approximately 19.7%.