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R
Reduction in presale consents issued signalled fewer private homes eduction in presale consents issued signalled fewer private homes
a
available in the near futurevailable in the near future

(Figure 8) Total number of residential units with presale consent issued

25,000

20,000
-35%
YoY
Number of units 15,000

10,000

5,000

0
2013 2014 2015 2016 2017 2018 2019
Source: Lands Department
Another indicator of the property market is the number of presale consents issued. To put it simply, in Hong Kong, new
residential projects, except for redevelopment projects, are required to apply for presale consents before they could launch
property sales rounds. Therefore, the figure could foretell the amount of properties available for sale in the near future, and could
also be a proxy for private housing units to be completed within the next two years.

In 2019, the Lands Department (LandsD) issued presale consents for 30 residential developments involving
14,140 units. The number was down 35% from 21,700 units recorded in 2018. The figure suggested that the
number of units that could be launched for sale in the coming year should be much smaller than preceding years.

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