In the near future, the Hong Kong property market will introduce new developments from urban redevelopment projects, including the smaller-scale VISTA at Kau Yi Chau, Island South Phase 3 at Wong Chuk Hang Station, and LOHAS Park Sunrise City Phase 12 in Tseung Kwan O. These new projects are expected to bring over 2,100 new units to the market. Despite their smaller scale, the market is eagerly awaiting the launch of the first large-scale project.

VISTA at Kau Yi Chau is located in the Kwun Tong district, divided into two phases, offering a total of 439 residential units. The first phase is ready for occupancy, comprising 256 units. The majority of residential units in the project boast breathtaking sea views of Victoria Harbour, with 4-bedroom units covering an area ranging from 1,100 square feet to 2,200 square feet, accounting for over 70% of the entire project.

Additionally, the project offers 23 residential units with features such as platforms, rooftops, terraces, or duplex layouts, with some even equipped with private pools. The largest residential unit exceeds 4,600 square feet. According to the general manager of New World Development's agency, Andy Chan Hon-lam, with the project's prime location and stunning sea views, it is expected to set new price and price-per-square-foot records in the area.

The Island South Phase 3 project, a collaboration between Cheung Kong and MTR Corporation, is located in the Southern District of Hong Kong. The project is divided into two phases, with the sales permit granted last month. Cheung Kong has announced that this project will be the first new development to hit the market this year, with 3B phase offering 1,200 residential units.

Meanwhile, Sun Hung Kai Properties' LOHAS Park Sunrise City Phase 12 is actively preparing for launch. The project is divided into 3 phases, totaling 1,985 residential units, and is expected to be launched this quarter.

Considering the recent trend of new developments being introduced at relatively lower prices, coupled with discounted sales of existing units, developers are likely to adopt pricing strategies aimed at attracting buyers in the current property market environment. Therefore, the pricing of these new developments may be more competitive, appealing to a broader range of homebuyers.