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Vivian Au

Hong Kong will offer nine residential sites to developers under the government’s land sale programme for the coming financial year, providing about 6,650 flats, after authorities said in the latest budget that the property market had stabilised.
Combined with other land sources, such as urban redevelopment, private development and projects linked to railway properties, the potential supply of new flats is estimated to reach an eight-year high of about 22,580 in the 2026-27 financial year.
The current record was set in 2018-19, when about 25,500 flats were made available.
Secretary for Development Bernadette Linn Hon-ho said on Friday that the coming land sale programme would offer nine residential sites, including three carried over from the previous list.
“It is obvious that the market is recovering, and transactions have steadily increased,” she said.
The nine sites are located in Stanley, Hung Shui Kiu, Ho Man Tin, Sai Kung, Sha Tin and Tung Chung. Each plot is expected to yield between 250 and 1,580 flats.
Three of the sites are in Hung Shui Kiu, an area in the New Territories that authorities aim to transform into a hub for high-value professional services and logistics as part of the Northern Metropolis megaproject.




These sites are expected to provide about 3,120 flats, accounting for nearly half of the potential supply from the nine sites.
“In the future, about half or more of the [city’s overall] supply will come from the Northern Metropolis,” Linn said.
The megaproject involves transforming 30,000 hectares (74,130 acres) of land into an economic powerhouse and housing hub.
The government also aims to build 308,000 flats across the city over the next 10 years.
Linn said it was “natural” for more supply to come from the Northern Metropolis, as it was a new development area, whereas the city’s existing urban core was already densely populated.
She said the government planned to put only one site – in Tung Chung – up for sale in the first quarter of 2026-27. The site was part of the previous programme and could provide about 990 flats, she added.
Linn also noted that the MTR Corporation was considering rolling out a site in Tuen Mun during the first quarter of the coming financial year. The railway property project was expected to provide about 5,510 flats.
The new financial year will be the second in a row to exclude commercial sites from the land sale programme.


Financial Secretary Paul Chan Mo-po said on Wednesday that the residential property market had just stabilised, but the commercial market remained relatively weak, keeping land premium income at a low level.
The administration forecast that the programme would generate HK$18 billion in land premiums in 2026-27, an increase of nearly 3 per cent from the modified estimate for the current financial year.
Asked why the expected land premium income remained much lower than in previous years, Linn said that the city should not remain in an “era with income from high land premiums”.
“Land and infrastructure costs cannot depend solely on land sales – new revenue streams need to be explored,” she said.
Land premium income reached a record high of more than HK$160 billion in 2017-18.
Veteran surveyor Vincent Cheung, managing director of Vincorn Consulting and Appraisal, said it was positive to hear that the Stanley site – a prime luxury residential plot – was being relaunched.
“It is a good start. If the Stanley site sells for a strong price, the government can consider releasing more luxury or low-density urban plots in a bid to boost land premium income,” he said.
Cheung added that while the supply of flats was sufficient, he hoped the government would release more luxury residential plots on Hong Kong Island, as transactions for such sites were performing well.
Hannah Jeong, head of valuation and advisory services at CBRE Hong Kong, said she expected the government to maintain a consistent and transparent land disposal schedule.
She noted that three of the nine sites were located in the Hung Shui Kiu new development area under a new land disposal approach, in which the three would be bundled into a single tender.
Jeong said this meant only seven residential land sale tenders were expected for the year, which would mark a historically low level for the city’s land disposal activity.
Chan also said in Wednesday’s budget speech that the total public housing supply was projected to reach about 196,000 flats over the next five years.
Authorities expect an average of 17,000 flats to be completed annually in the private sector over the same period.
The supply of first-hand private flats is forecast to hit 104,000 homes over the next three to four years.


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Sites in Hung Shui Kiu are among those set to be offered to developers. Photo: Sam Tsang

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Sites include three from previous programme and are expected to yield about 6,650 flats, development chief Bernadette Linn says


Sites include three from previous programme and are expected to yield about 6,650 flats, development chief Bernadette Linn says.


Hong Kong to offer 9 residential sites to developers in 2026-27 land sale plan

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Sites include three from previous programme and are expected to yield about 6,650 flats, development chief Bernadette Linn says

Sites include three from previous programme and are expected to yield about 6,650 flats, development chief Bernadette Linn says