Mass-focus residential projects in New Territories get presale approvals

November has a strong mass-residential pipeline.

It has been reported that several mass-focus residential projects in the New Territories, such as Yuccie Square, CAPRI and Bloomsway, obtained presale approvals in October.

According to a research note from Jefferies, in total, five projects provide 2,812 units, up 19x MoM.

Notably, developers indicated their intention to launch those projects immediately. Two projects were actually launched last week, said the report.

Here's more from Jefferies:

As such, the jammed launch pipeline targeting the mass segment in NT would imply further pricing pressure on secondary sales.

We also expect to see higher discounts and more attractive payment terms offered by developers as a result of intensified competition.

However, we are worried about the risk of forfeiture given a high proportion of buyers choosing the low down-payment plan.