About 41 new private residential developments comprising 12,000 units have been launched so far this year, and an additional 2,500 to 3,500 units are anticipated to be launch ready this quarter. However, the average sell-down rate of the new projects so far this year stands at 27% as of end-August, compared to the 47% sell-down rate of new projects that were launched in the year prior to the July 2018 property cooling measures.