More than 10 major residential developments involving over 4,000 units are expected to be among the first projects to be affected by the Government's new pre-sale consent restrictions.
A 1,100-unit residential project by Sun Hung Kai Properties (SHKP) at Ha Yau Tin, Yuen Long, for which an application for pre-sale consent was submitted before the Government's announcement of new measures last week, will escape the new curbs.
The pre-sale restrictions, effective immediately, will cover developers' new applications. Projects pending consent approval will be exempted.
While developers say the new measures are unwarranted, analysts have been pondering how they will respond and whether the dispute between the Government and developers over the new rules will intensify.
Analysts say that if market prospects become uncertain, developers could be more cautious in submitting pre-sale applications because their marketing schedule would be restricted by the new measures.
Other coming projects, which have not yet applied for pre-sale consent, include Henderson Land Development's 2,160-unit Neo Treasure City at Tseung Kwan O, Cheung Kong (Holdings) and Pacific Concord Holding's 1,982-unit joint venture in Ma On Shan, and New World Development and HKR International's Discovery Park phase three in Tsuen Wan, which comprises 1,120 units.