〈RTHK News, Mar 1, 2025〉The government said on Friday that eight residential plots it plans to roll out in the coming financial year can house around 4,450 flats, more than a fifth less than the figure from the current fiscal year.
Development Secretary Bernadette Linn said none of the plots in the coming land sale programme are able to accommodate more than a thousand units.
Five of the sites are in urban areas, in Tsuen Wan, Shau Kei Wan, Jordan Valley, Ngau Tau Kok and Ta Kwu Ling.
The others are in Tung Chung, Stanley and Tuen Mun, whose Hoi Chu Road plot for around 500 homes will be introduced in the next quarter.
Linn said officials want to roll out sites in urban areas because there are signs the property market is recovering and these plots should be quite attractive.
〈Hong Kong Business, Feb 28, 2025〉The increase of maximum property value eligible for a $100 stamp duty to $4m from $3m is expected to benefit approximately 15% of property transactions, according to Morgan Stanley.
For a $4m property, buyers will now pay $60,000 less in taxes, a 99% reduction, which could help stimulate demand in the lower-end housing market, Morgan Stanley stated.
Morgan Stanley noted the acceleration of the Northern Metropolis development is a crucial strategy aimed at facilitating faster land resumption from developers such as NWD, Henderson, SHKP, and CKA.
〈Asian Post, Feb 27, 2025〉Whilst the government has committed capital resources to the Northern Metropolis project, concerns remain about execution and financial constraints, analysts said.
CBRE emphasised the need for greater transparency, stating that “given the market concerns on the Northern Metropolis development, the government should outline the detailed information on the funding and execution plans, amidst the prolonged market downturn.” Without clear plans, market confidence in the project may remain weak.
Private sector investment is another challenge, particularly given the sluggish land market.
〈The Standard, Feb 26, 2025〉Hong Kong will put up a residential site in Tuen Mun for tender next quarter – the first quarter of 2025/26 fiscal year, offering 525 units.
The site in Hoi Chu Road is conveniently located near a Light Rail station, with mature infrastructure, according to Secretary for Development Bernadette Linn Hon-ho.
Linn anticipates that two private development and redevelopment projects will complete the lease modification process by next quarter, providing a total of 164 units.
The government rolls out eight residential sites on the land sale list in the coming fiscal year, offering around 13,700 units across various sources.
〈The Standard, Feb 24, 2025〉Hong Kong’s 2025/26 Budget, projected to face a deficit of $87.2b, focuses on boosting the city’s asset management and innovation sectors through expanded tax incentives for family offices, digital assets, and AI development.
Analysts are praising the government's efforts to attract international investors and enhance Hong Kong’s competitiveness as a global financial hub.
PwC’s Agnes Wong and KPMG’s Alice Leung both highlight the expansion of tax exemptions to include fine arts and collectibles, which could draw more overseas family offices to the city.
Additionally, KPMG’s John Timpany sees Hong Kong’s emphasis on artificial intelligence as a key growth driver, with major projects like the Hong Kong Artificial Intelligence Research and Development Institute set to align scientific research with industry needs. These measures aim to inject vitality into Hong Kong's financial sector while creating new growth opportunities in emerging technologies.
