Primary transactions dropped by 5.3% QOQ, while secondary was up by 10.5% QOQ, driven by the new loan-ratio policy. As of November, prices for mass-market units were up 0.7% from September. Luxury prices declined 0.6% QOQ. Mass-market rents declined 3% in Oct-Nov, while luxury unit rents dropped 0.3% in Q4. We recommend home buyers consider options provided by the price correction and active new launches from developers.