Gao Li: The budget clearly demonstrates Hong Kong's long-term development direction, which helps to comprehensively enhance competitiveness

The head of Colliers Hong Kong Research Department and retail consultant, Li Wanyin, stated that this year's "Budget" clearly demonstrates the government's direction for promoting Hong Kong's long-term development, including strengthening innovation and technology, ecosystem construction, talent cultivation, digital infrastructure, and sustainable development. These measures will help comprehensively enhance Hong Kong's competitiveness and provide broader development space for various industries.

At the same time, the budget mentions the Northern Metropolis planning and related investments, which are also important engines for driving Hong Kong's future growth. The Northern Metropolis will further strengthen cross-border collaboration, innovation and technology industry clustering, and land supply, creating more opportunities for businesses and talent, and laying a more solid foundation for the deep integration of Hong Kong with the Greater Bay Area.

Hou Zhigang, Senior Director of Valuation and Consulting Services and Head of Financing Assessment at Colliers Hong Kong, stated that the budget announced next year's land sales will include nine residential plots, along with railway property development, Urban Renewal Authority projects, and private development and redevelopment projects, with an estimated potential land supply for the year to build about 22,000 units. The government also emphasized that it will continue to adhere to a prudent and orderly land release strategy.

Hou Zhigang noted that observing the current market conditions, both residential transaction volumes and prices have seen a rebound, reflecting that the practice of reviewing the market quarterly and flexibly adjusting the land release pace is timely and effective. While ensuring the supply of private housing, it avoids putting additional pressure on housing prices during the recovery period, allowing the market to gradually warm up at a controllable pace