Hong Kong housing pre-sale approvals stall for fourth month

Hong Kong saw just one subsidized residential project approved for pre-sale in August, while no new private housing developments received consent, marking the fourth straight month of stagnant approvals, according to Midland Realty.

The sole project, at No. 3 Muk Lai Street in Kai Tak, includes 1,800 units.

Despite the lack of new approvals, developers have actively launched new projects. The number of units with pre-sale consent but not yet on the market fell to 11,036 in August, down roughly 13 percent from July and 33 percnet from a peak of 16,493 units in December 2024, the lowest level in nearly three years.