From a sales strategy perspective, many new developments have adopted low-price strategies to boost sales, leading to an oversupply situation in the market. This intense competitive market condition has attracted some potential buyers to visit demonstration units over the weekend for comparison, simultaneously drawing attention from second-hand property buyers.

To attract homebuyers, developers have accelerated the pace of launching new projects, with the market's primary focus shifting to these new developments, impacting the transaction volume of second-hand properties to some extent.

In terms of purchasing power, current homebuyers tend to prefer relatively lower-priced new developments, resulting in insufficient transaction volume for second-hand properties.

According to data, in the Hong Kong Island and Kowloon areas, the practical unit price of properties has decreased, although the extent of the decline varies.

Meanwhile, in the New Territories, with the emergence of more new developments and increased property transactions, homebuyers have more choices.

The impact of policies and the macroeconomic environment is also one of the important factors in the current market.

The government has introduced a series of regulatory policies on the real estate market, restricting speculative homebuying behavior and reducing the willingness of buyers to engage in speculative purchases, gradually stabilizing the market atmosphere. In addition, the announcement by the United States of a temporary hold on interest rate hikes has indirectly affected the transaction situation in the Hong Kong real estate market, bringing about a certain influence on the market.