<p>香港的开发商正在通过提高价格或减少折扣来测试住房市场的复苏，因为改善的市场情绪和交易的反弹增强了人们对该市房地产行业的信心。但分析师表示，这些举措仍然不均衡，许多新推出的项目仍在提供可观的优惠，因为开发商继续优先清理在市场低迷期间积累的未售库存。新世界发展计划从周一开始，将其位于黄竹坑的深水湾项目在 120 天即时付款计划下提供的折扣从 8% 削减至 5.5%，有效地将价格提高了约 2.5%。根据开发商发布的销售信息，该项目大部分单位已经售出，仅剩少量小户型和几个大户型可供出售。其他开发商采取了更直接的方法。在元朗的锦汇项目，由信和置业主导，开发商最近将十多套单位的价格提高了 1.4% 至 7.1% 不等。分析师表示，一些开发商通过缩减激励措施而不是调整标价来提高有效价格。万科香港在过去一个月内多次修订其位于大埔的乐山项目的价格表，将最高折扣从去年的约 16% 削减至仅 6%。美联物业住宅部首席执行官包嘉骏表示：“我们开始看到一些开发商在三到四个月前提高价格或减少折扣，随着情绪自一月以来明显恢复，更多开发商也跟随其后。” 但这种价格调整通常仅限于大部分单位已经售出的项目。“这些是剩余单位，” 包说。“开发商不再急于出售它们。” 高纬环球的估值与顾问服务高级总监黎德嘉表示，这种谨慎的调整反映了市场刚刚开始稳定。“市场刚刚开始复苏，因此开发商仍然非常谨慎，” 他说。“逐步减少激励措施是一种更为保守的涨价方式。” 与此同时，新推出的项目仍然依赖相对慷慨的折扣来吸引买家。新世界发展的云景项目本周发布了首个价格表，提供超过 150 个单位，折扣高达 20%。在扣除优惠后，价格从 368.3 万港元起。代理商形容该定价为克制，平均折扣价格大致与该地区的二手房相当。在尖沙咀，新世界还推出了其大奥斯汀波希米亚系列项目，发布了首批折扣高达 20% 的公寓。开发商随后发布了剩余单位的第二个价格表，保持相同的优惠水平，同时将入门价格设定为该地区约 11 年来的最低水平。香港的二手房价格在年初的前两个月反弹了约 2%，许多市场观察者认为这是市场在经历了自 2022 年以来因高利率、经济情绪疲软和供应激增而导致的长期低迷后，可能找到了底部的迹象。根据官方数据，1 月份房价较上月上涨 0.53%，维持了自 2025 年第二季度开始的复苏。“总体而言，开发商仍然优先清理库存，” 包说。“目前仍有约 16,000 个未售新单位，因此开发商希望迅速产生现金。” 由于这种供应过剩，大多数大众市场项目仍预计将以折扣推出，特别是在如启德和将军澳等新供应较多的地区。开发商可能只有在未售单位的积压进一步减少后，才能重新获得更强的定价权。美联估计，只有当未售库存降至接近 10,000 个单位时，大众市场项目的折扣才可能消失。激励措施的逐步减少也反映了投资者对该行业前景日益增长的乐观情绪。今年，主要香港开发商的股票上涨了 20% 至 50% 不等，这表明股权投资者越来越押注房地产周期已经触底。然而，黎德嘉警告说，复苏仍然脆弱。“市场处于复苏的早期阶段，但由于经济不确定性和地缘政治紧张局势，基本面的信心仍然不稳定，” 他说，预测今年房价可能上涨约 5%。</p>

恒隆集团

中国海外发展

太古地产

<p>香港的开发商正在通过提高价格或减少折扣来测试住房市场的复苏，因为改善的市场情绪和交易的反弹增强了人们对该市房地产行业的信心</p>

<p>Developers in Hong Kong are testing the housing market’s recovery by nudging prices up or paring discounts as improving sentiment and a rebound in transactions boost confidence in the city’s property sector. But analysts said the moves remained uneven, with many newly launched projects still offering sizeable concessions as developers continued to prioritise clearing unsold inventory accumulated during the market downturn. New World Development plans to cut the discount offered under the 120-day immediate payment plan at its Deep Water Pavilia project in Wong Chuk Hang from 8 per cent to 5.5 per cent starting on Monday, effectively raising prices by about 2.5 per cent. Most of the project had already been sold, with only a handful of smaller flats and several larger units still available, according to sales information released by the developer. Other developers have taken a more direct approach. At the Grand Mayfair project near Kam Sheung Road station in Yuen Long, led by Sino Land, the developer recently raised prices on more than a dozen units by between 1.4 per cent and 7.1 per cent. Some developers are lifting effective prices by scaling back incentives rather than adjusting headline prices, analysts said. Vanke Hong Kong has revised price lists for its Le Mont project in Tai Po several times over the past month, cutting the maximum discount to just 6 per cent from about 16 per cent last year. “We started to see some developers raising prices or reducing discounts three to four months ago, and more have followed as sentiment has clearly recovered since January,” said Sammy Po, CEO of Midland Realty’s residential division. But such price adjustments are often limited to projects where most units have already been sold. “These are leftover units,” Po said. “Developers are no longer in a hurry to offload them.” Edgar Lai, senior director of valuation and advisory services at Cushman &amp; Wakefield, said the cautious adjustments reflected a market that was only beginning to stabilise. “The market has only just started to recover, so developers are still being very careful,” he said. “Gradually reducing incentives is a more conservative way of raising prices.” At the same time, newly launched projects continued to rely on relatively generous discounts to attract buyers. New World Development’s Cloudview project in Sheung Shui released its first price list this week, offering more than 150 units with discounts of up to 20 per cent. Prices start from HK$3.683 million after concessions. Agents described the pricing as restrained, with the average discounted price roughly in line with second-hand homes in the district. In Tsim Sha Tsui, New World also launched its Grand Austin Bohemian Collection project, releasing an initial batch of flats with discounts of up to 20 per cent. The developer later released a second price list for the remaining units, keeping the same level of concessions while setting the entry price to the lowest level in the district in about 11 years. Hong Kong’s lived-in home prices rebounded about 2 per cent in the first two months of the year, which many market watchers see as a sign that the market may have found a floor after a prolonged slump that began in 2022 amid high interest rates, weak economic sentiment and a surge in supply. Home prices rose 0.53 per cent in January from a month earlier, according to official data, sustaining a recovery that began in the second quarter of 2025. “Overall, developers are still prioritising clearing inventory,” Po said. “There are still around 16,000 unsold new units, so developers want to generate cash quickly.” Because of that supply overhang, most mass-market projects are still expected to launch with discounts, particularly in districts with heavy new supply like Kai Tak and Tseung Kwan O. Developers are likely to regain stronger pricing power only after the backlog of unsold units falls further. Midland estimates discounts for mass-market projects may disappear only once unsold inventory drops closer to 10,000 units. The gradual reduction in incentives also reflects growing optimism among investors about the sector’s outlook. Shares of major Hong Kong developers have rallied between 20 and 50 per cent this year, suggesting equity investors are increasingly betting the property cycle has bottomed out. Still, Lai cautioned the recovery remained fragile. “The market is in the early stage of recovery, but confidence in the fundamentals is still not stable because of economic uncertainty and geopolitical tensions,” he said, forecasting home prices could rise about 5 per cent this year.</p>
<div class="lb-trans"><p>香港的开发商正在通过提高价格或减少折扣来测试住房市场的复苏，因为改善的市场情绪和交易的反弹增强了人们对该市房地产行业的信心。但分析师表示，这些举措仍然不均衡，许多新推出的项目仍在提供可观的优惠，因为开发商继续优先清理在市场低迷期间积累的未售库存。新世界发展计划从周一开始，将其位于黄竹坑的深水湾项目在 120 天即时付款计划下提供的折扣从 8% 削减至 5.5%，有效地将价格提高了约 2.5%。根据开发商发布的销售信息，该项目大部分单位已经售出，仅剩少量小户型和几个大户型可供出售。其他开发商采取了更直接的方法。在元朗的锦汇项目，由信和置业主导，开发商最近将十多套单位的价格提高了 1.4% 至 7.1% 不等。分析师表示，一些开发商通过缩减激励措施而不是调整标价来提高有效价格。万科香港在过去一个月内多次修订其位于大埔的乐山项目的价格表，将最高折扣从去年的约 16% 削减至仅 6%。美联物业住宅部首席执行官包嘉骏表示：“我们开始看到一些开发商在三到四个月前提高价格或减少折扣，随着情绪自一月以来明显恢复，更多开发商也跟随其后。” 但这种价格调整通常仅限于大部分单位已经售出的项目。“这些是剩余单位，” 包说。“开发商不再急于出售它们。” 高纬环球的估值与顾问服务高级总监黎德嘉表示，这种谨慎的调整反映了市场刚刚开始稳定。“市场刚刚开始复苏，因此开发商仍然非常谨慎，” 他说。“逐步减少激励措施是一种更为保守的涨价方式。” 与此同时，新推出的项目仍然依赖相对慷慨的折扣来吸引买家。新世界发展的云景项目本周发布了首个价格表，提供超过 150 个单位，折扣高达 20%。在扣除优惠后，价格从 368.3 万港元起。代理商形容该定价为克制，平均折扣价格大致与该地区的二手房相当。在尖沙咀，新世界还推出了其大奥斯汀波希米亚系列项目，发布了首批折扣高达 20% 的公寓。开发商随后发布了剩余单位的第二个价格表，保持相同的优惠水平，同时将入门价格设定为该地区约 11 年来的最低水平。香港的二手房价格在年初的前两个月反弹了约 2%，许多市场观察者认为这是市场在经历了自 2022 年以来因高利率、经济情绪疲软和供应激增而导致的长期低迷后，可能找到了底部的迹象。根据官方数据，1 月份房价较上月上涨 0.53%，维持了自 2025 年第二季度开始的复苏。“总体而言，开发商仍然优先清理库存，” 包说。“目前仍有约 16,000 个未售新单位，因此开发商希望迅速产生现金。” 由于这种供应过剩，大多数大众市场项目仍预计将以折扣推出，特别是在如启德和将军澳等新供应较多的地区。开发商可能只有在未售单位的积压进一步减少后，才能重新获得更强的定价权。美联估计，只有当未售库存降至接近 10,000 个单位时，大众市场项目的折扣才可能消失。激励措施的逐步减少也反映了投资者对该行业前景日益增长的乐观情绪。今年，主要香港开发商的股票上涨了 20% 至 50% 不等，这表明股权投资者越来越押注房地产周期已经触底。然而，黎德嘉警告说，复苏仍然脆弱。“市场处于复苏的早期阶段，但由于经济不确定性和地缘政治紧张局势，基本面的信心仍然不稳定，” 他说，预测今年房价可能上涨约 5%。</p>
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香港开发商在住宅市场复苏的背景下测试其定价能力