Only One Presale Approval as Pipeline Swells
AM730 · 1 SOURCESabout 19 hours ago2 MIN
Summary
Hong Kong’s presale approval activity slowed sharply in July, with only one project receiving consent from the Lands Department. The sole approval was for China Resources Land (Overseas)’s Southwest Kowloon project "Mori I", involving 507 flats. At the same time, five fresh presale applications covering 2,246 units were lodged, pushing the stock of pending applications to 32 projects and 13,734 units, a 21-month high.
Key Points
- The only July presale consent went to China Resources Land (Overseas)’s "Mori I" in Southwest Kowloon, providing 507 units to the market.
- The Lands Department received five new presale applications in July, together covering 2,246 units across private housing and subsidised sale housing.
- Kerry-led Hung Hom Ngan Hon Street Phase 2 sought presale approval for 259 units, with an estimated key date of June 30, 2028.
- CK Asset’s 23 Kai Ming Street project in the same district filed for 566 units, with a projected key date of September 30, 2028.
- Pending presale applications reached 32 projects involving 13,734 units by month-end, the highest level since October 2024, about 21 months ago.
Why It Matters
The figures suggest a widening gap between incoming applications and actual approvals, leaving a larger volume of housing supply in the administrative pipeline. For developers and buyers, the rising backlog may affect launch timing, cash-flow planning and expectations for near-term primary market supply across different districts.