According to the latest statistics, there will be up to 18 new projects entering the market in the first quarter of next year, with Cheung Sha Wan becoming a focal point, accounting for over 20% of the new supply in the area, providing more than 1,500 units.

In the Kai Tak district, an essential area for the supply of first-hand properties in Hong Kong, despite having over 8,000 units yet to be launched, it is anticipated that only two projects, MIAMI QUAY Phase 2 (571 units) and Double Cove (702 units), will debut in the first quarter.

On the other hand, Cheung Sha Wan will welcome several new projects, including Henderson's project on Pak Wai Path, expected to offer 1,100 units, and The Arden project, providing 262 units.

Additionally, the Tokyo Street project, developed in collaboration with the Hong Kong Housing Society, will offer 198 units. These three projects will increase the market in Cheung Sha Wan by 1,560 units, making it the area with the most new launches next year, surpassing Kai Tak.

The YOHO WEST project has achieved significant sales success due to its excellent location in the northern metropolitan area, with the neighboring area, The YOHO Hub Phase C, offering 939 units. The 39 Yung Shue project in Yuen Long will also be launched in the first quarter of next year, injecting 594 units into the market.

The Hong Kong Island district will also see five new projects launched in the first quarter of the new year, providing a total of 515 units. These include J Residence on Chun Fai Road in Tai Hang (114 units), ONE CENTRAL PLACE (121 units), Chun Garden Street in Wan Chai (88 units), High Street in Sai Ying Pun (121 units), and ONE STANLEY in Stanley (82 units). In addition, the large-scale project at 55 Ngan Hon Road, developed by Chinachem Group, is expected to offer 807 units.

Despite the recent downturn in property prices and uncertainty in interest rates in the Hong Kong property market, developers are expected to adopt a low-price strategy to stimulate sales. With multiple new projects planned for launch in early next year, industry experts predict a new peak in purchasing power in the market. The future trajectory of the Hong Kong property market will be closely monitored, with a keen focus on developers' pricing strategies and buyers' responses to the subdued market.