<p>香港的開發商正在通過提高價格或減少折扣來測試住房市場的復甦，因為改善的市場情緒和交易的反彈增強了人們對該市房地產行業的信心。但分析師表示，這些舉措仍然不均衡，許多新推出的項目仍在提供可觀的優惠，因為開發商繼續優先清理在市場低迷期間積累的未售庫存。新世界發展計劃從週一開始，將其位於黃竹坑的深水灣項目在 120 天即時付款計劃下提供的折扣從 8% 削減至 5.5%，有效地將價格提高了約 2.5%。根據開發商發佈的銷售信息，該項目大部分單位已經售出，僅剩少量小户型和幾個大户型可供出售。其他開發商採取了更直接的方法。在元朗的錦匯項目，由信和置業主導，開發商最近將十多套單位的價格提高了 1.4% 至 7.1% 不等。分析師表示，一些開發商通過縮減激勵措施而不是調整標價來提高有效價格。萬科香港在過去一個月內多次修訂其位於大埔的樂山項目的價格表，將最高折扣從去年的約 16% 削減至僅 6%。美聯物業住宅部首席執行官包嘉駿表示：“我們開始看到一些開發商在三到四個月前提高價格或減少折扣，隨着情緒自一月以來明顯恢復，更多開發商也跟隨其後。” 但這種價格調整通常僅限於大部分單位已經售出的項目。“這些是剩餘單位，” 包説。“開發商不再急於出售它們。” 高緯環球的估值與顧問服務高級總監黎德嘉表示，這種謹慎的調整反映了市場剛剛開始穩定。“市場剛剛開始復甦，因此開發商仍然非常謹慎，” 他説。“逐步減少激勵措施是一種更為保守的漲價方式。” 與此同時，新推出的項目仍然依賴相對慷慨的折扣來吸引買家。新世界發展的雲景項目本週發佈了首個價格表，提供超過 150 個單位，折扣高達 20%。在扣除優惠後，價格從 368.3 萬港元起。代理商形容該定價為剋制，平均折扣價格大致與該地區的二手房相當。在尖沙咀，新世界還推出了其大奧斯汀波希米亞系列項目，發佈了首批折扣高達 20% 的公寓。開發商隨後發佈了剩餘單位的第二個價格表，保持相同的優惠水平，同時將入門價格設定為該地區約 11 年來的最低水平。香港的二手房價格在年初的前兩個月反彈了約 2%，許多市場觀察者認為這是市場在經歷了自 2022 年以來因高利率、經濟情緒疲軟和供應激增而導致的長期低迷後，可能找到了底部的跡象。根據官方數據，1 月份房價較上月上漲 0.53%，維持了自 2025 年第二季度開始的復甦。“總體而言，開發商仍然優先清理庫存，” 包説。“目前仍有約 16,000 個未售新單位，因此開發商希望迅速產生現金。” 由於這種供應過剩，大多數大眾市場項目仍預計將以折扣推出，特別是在如啓德和將軍澳等新供應較多的地區。開發商可能只有在未售單位的積壓進一步減少後，才能重新獲得更強的定價權。美聯估計，只有當未售庫存降至接近 10,000 個單位時，大眾市場項目的折扣才可能消失。激勵措施的逐步減少也反映了投資者對該行業前景日益增長的樂觀情緒。今年，主要香港開發商的股票上漲了 20% 至 50% 不等，這表明股權投資者越來越押注房地產週期已經觸底。然而，黎德嘉警告説，復甦仍然脆弱。“市場處於復甦的早期階段，但由於經濟不確定性和地緣政治緊張局勢，基本面的信心仍然不穩定，” 他説，預測今年房價可能上漲約 5%。</p>

恆隆集團

中國海外發展

太古地產

<p>香港的開發商正在通過提高價格或減少折扣來測試住房市場的復甦，因為改善的市場情緒和交易的反彈增強了人們對該市房地產行業的信心</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>香港的開發商正在通過提高價格或減少折扣來測試住房市場的復甦，因為改善的市場情緒和交易的反彈增強了人們對該市房地產行業的信心。但分析師表示，這些舉措仍然不均衡，許多新推出的項目仍在提供可觀的優惠，因為開發商繼續優先清理在市場低迷期間積累的未售庫存。新世界發展計劃從週一開始，將其位於黃竹坑的深水灣項目在 120 天即時付款計劃下提供的折扣從 8% 削減至 5.5%，有效地將價格提高了約 2.5%。根據開發商發佈的銷售信息，該項目大部分單位已經售出，僅剩少量小户型和幾個大户型可供出售。其他開發商採取了更直接的方法。在元朗的錦匯項目，由信和置業主導，開發商最近將十多套單位的價格提高了 1.4% 至 7.1% 不等。分析師表示，一些開發商通過縮減激勵措施而不是調整標價來提高有效價格。萬科香港在過去一個月內多次修訂其位於大埔的樂山項目的價格表，將最高折扣從去年的約 16% 削減至僅 6%。美聯物業住宅部首席執行官包嘉駿表示：“我們開始看到一些開發商在三到四個月前提高價格或減少折扣，隨着情緒自一月以來明顯恢復，更多開發商也跟隨其後。” 但這種價格調整通常僅限於大部分單位已經售出的項目。“這些是剩餘單位，” 包説。“開發商不再急於出售它們。” 高緯環球的估值與顧問服務高級總監黎德嘉表示，這種謹慎的調整反映了市場剛剛開始穩定。“市場剛剛開始復甦，因此開發商仍然非常謹慎，” 他説。“逐步減少激勵措施是一種更為保守的漲價方式。” 與此同時，新推出的項目仍然依賴相對慷慨的折扣來吸引買家。新世界發展的雲景項目本週發佈了首個價格表，提供超過 150 個單位，折扣高達 20%。在扣除優惠後，價格從 368.3 萬港元起。代理商形容該定價為剋制，平均折扣價格大致與該地區的二手房相當。在尖沙咀，新世界還推出了其大奧斯汀波希米亞系列項目，發佈了首批折扣高達 20% 的公寓。開發商隨後發佈了剩餘單位的第二個價格表，保持相同的優惠水平，同時將入門價格設定為該地區約 11 年來的最低水平。香港的二手房價格在年初的前兩個月反彈了約 2%，許多市場觀察者認為這是市場在經歷了自 2022 年以來因高利率、經濟情緒疲軟和供應激增而導致的長期低迷後，可能找到了底部的跡象。根據官方數據，1 月份房價較上月上漲 0.53%，維持了自 2025 年第二季度開始的復甦。“總體而言，開發商仍然優先清理庫存，” 包説。“目前仍有約 16,000 個未售新單位，因此開發商希望迅速產生現金。” 由於這種供應過剩，大多數大眾市場項目仍預計將以折扣推出，特別是在如啓德和將軍澳等新供應較多的地區。開發商可能只有在未售單位的積壓進一步減少後，才能重新獲得更強的定價權。美聯估計，只有當未售庫存降至接近 10,000 個單位時，大眾市場項目的折扣才可能消失。激勵措施的逐步減少也反映了投資者對該行業前景日益增長的樂觀情緒。今年，主要香港開發商的股票上漲了 20% 至 50% 不等，這表明股權投資者越來越押注房地產週期已經觸底。然而，黎德嘉警告説，復甦仍然脆弱。“市場處於復甦的早期階段，但由於經濟不確定性和地緣政治緊張局勢，基本面的信心仍然不穩定，” 他説，預測今年房價可能上漲約 5%。</p>
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香港開發商在住宅市場復甦的背景下測試其定價能力