Event: Hong Kong

Hong Kong will offer nine residential sites to developers under the government’s land sale programme for the coming financial year, providing about 6,650 flats, after authorities said in the latest budget that the property market had stabilised.Combined with other land sources, such as urban redevelopment, private development and projects linked to railway properties, the potential supply of new flats is estimated to reach an eight-year high of about 22,580 in the 2026-27 financial year.The current record was set in 2018-19, when about 25,500 flats were made available.Secretary for Development Bernadette Linn Hon-ho said on Friday that the coming land sale programme would offer nine residential sites, including three carried over from the previous list.“It is obvious that the market is recovering, and transactions have steadily increased,” she said.The nine sites are located in Stanley, Hung Shui Kiu, Ho Man Tin, Sai Kung, Sha Tin and Tung Chung. Each plot is expected to yield between 250 and 1,580 flats.