The Hong Kong government has also introduced a series of rental and purchase policies to ease market pressure. Investors should carefully consider the risks and returns when purchasing or investing in property and consult professional advice.

The recent turnaround in Hong Kong's property market has been evident, with developers increasing their incentives in order to speed up stock removal.

For example, the latest price list of Wong Chuk Hang Station Yeung Hoi, which is co-developed by Kerry (00683) and others, has added a number of new incentives, with a maximum discount rate of 33% and an 8% early repayment cash rebate.

In addition, SHKP (00016)'s Kowloon Station Tianxi sold a 4-room flat with a usable area of 1,545 sq ft by tender, with a transaction amount of nearly $156.9 million. 21 BORRETT ROAD in Mid-Levels West, a super-luxury property of Cheung Kong (01113), also re-launched the sale of units.

However, while these incentives were able to attract some buyers, overall market demand remains weak.

According to data from Centaline Property Hong Kong, in the third quarter of 2023, the average price of private residential second-hand properties in Hong Kong fell by 3.1 per cent compared with the previous quarter, marking the largest quarterly decline since 2016. Among them, prices in the New Territories fell the most significantly, by 5.5 per cent.

In addition, the Hong Kong government is also taking measures to ease the pressure on the property market.

For example, the Hong Kong government has recently introduced a number of rental and home purchase policies, including renting out a portion of public housing to the middle class and relaxing property market control policies. These measures can increase the supply of housing and lower the threshold for home ownership, thus helping to ease the pressure on the market.