Core Insights - In September, the Hong Kong Lands Department reported three new private residential projects applying for pre-sale consent, involving 909 units, a decrease of 550 units or 37.7% month-on-month [1] - The three new projects include the SIERRA SEA Phase 2B by New World Development (00016) with 522 units, the first phase of the Kowloon Development (00034) project at Ngau Chi Wan with 361 units, and a project by Far East Consortium (00035) offering 26 houses [1] - As of the end of September, there are 8,902 residential units pending pre-sale consent, an increase of 11% month-on-month, marking an eight-month high [1] - In September, only one pre-sale consent was granted for a project at 8 Wo Mei Red Cotton Road in Sai Kung, involving 51 units, breaking a four-month streak of no approvals [1]