CBRE: Hong Kong Government Lowers Private Residential Supply for the Next 10 Years, Developers May Continue to Exercise Caution and Delay New Project Launches.

According to the latest information from the Zhitong Finance APP, the target for private residential supply in Hong Kong in the next 10 years has been revised to 126,000 units, a decrease of 6,000 units. Zheng Haiyan, director of valuation and consulting at Savills, believes that although this adjustment will not significantly impact the overall supply-demand imbalance, it highlights the importance of maintaining a stable and transparent land sales plan to address Hong Kong's long-term housing needs. From the perspective of developer confidence, the Hong Kong government places more emphasis on land supply and long-term planning than short-term market support. Therefore, developers may still remain cautious, transaction volumes may remain sluggish, negative price adjustment sentiment may persist, especially in the secondary market, and developers may delay the launch of new projects or offer discounts to clear existing inventory.