It is reported that six new projects are expected to be launched successively this month, covering 2,437 units, mainly consisting of medium and small-sized units. Among these projects, YOHO WEST in Tin Shui Wai Station is the largest in scale, offering 1,393 units, making it the largest new project in the past two years.

According to data, the government's measures have begun to take effect. Although the number of transactions for new properties in October was approximately 361, which has been below a thousand for two consecutive months, the market is expected to experience a warming trend in the new property market.

It is expected that more new projects will be launched in November, providing an increase of 1,254 units compared to the previous month, an increase of about 1.1 times. Among them, four projects mainly consist of medium and small-sized units. In addition to the YOHO WEST project in Tin Shui Wai Station, the Kowloon area is also expected to become the leader in the new property market, with a total of 1,036 units set to be launched, accounting for 43% of the supply of new properties for the month.

The YOHO WEST project will offer a variety of unit types, mainly 2-bedroom units or smaller, and is expected to be completed by the end of September 2024. The project will benefit from the government's relaxation of mortgage policies for uncompleted properties, and is expected to attract a large number of first-time homebuyers and families.

Developers will announce the distribution of unit types and the latest sales strategies to prepare for the launch.

A Valuation and Professional Advisory Services Manager pointed out that with the implementation of the measures, developers will speed up the launch of new projects to realize cash flow. He predicts that as long as the prices are reasonable, close to or lower than the prices of second-hand properties, the acceptance of buyers will not be an issue, and the transactions of new properties in November are expected to increase significantly.

However, the advisor also pointed out that despite the government's measures, the property market has not completely lifted relevant restrictions, and investors still need to consider the cost of stamp duty when entering the market. Therefore, it is expected that the proportion of investors entering the market for new properties will not increase significantly, and relatively, 80% or more of the buyers will mainly be owner-occupiers.