Jeff Yau, Hong Kong Real Estate Analyst at the Economic Research Department of DBS Bank (Hong Kong), pointed out that Hong Kong's property market has begun to pick up after the Chinese New Year in February and the release of the latest budget. Developers have sped up the launches of new projects once again, coupled with bigger discounts to attract potential buyers. However, the secondary market remains sluggish with the global economic outlook still uncertain.

Considering that unsold residential inventory remains high and supply is ample, there is little room for price increases, Yau added. The bank forecasted that property prices would continue to record an annual decline of about 5% for the entire of 2025, compared to a roughly 2% drop YTD.

Seeing that developers have taken a cautious approach and reduced land purchases in recent years, Yau also projected that Hong Kong's residential supply, compared to previous years, will decrease dramatically starting from 2027, and that property prices may bottom out next year and could even rebound by about 3%.