(Budget 2026) Nine residential sites to be sold, no commercial land sales

Financial Secretary Paul Chan Mo-po on Wednesday announced plans to sell nine residential sites in the coming financial year, with total potential land supply sufficient to produce around 22,000 housing units.

In his annual Budget, Chan said the government will make land available for the production of about 98,000 private housing units over the next five years. The Land Sale Program for the coming year will include nine residential sites, which will be released for sale on a quarterly basis, taking into account market conditions.

Together with railway property development projects, Urban Renewal Authority initiatives, and private development and redevelopment projects, the total potential land supply for the year is expected to support the construction of approximately 22,000 units.

Chan said that in view of the high vacancy rate in the non-residential property market and prevailing supply and demand conditions, the government will not put up general commercial sites for sale in the coming year.

On public housing, Chan said that, including Light Public Housing projects, total public housing production over the next five years is expected to reach around 196,000 units. This represents an increase of more than 80 percent compared with the five-year period since the current-term government took office.

For private housing, the government estimates that completions will average around 17,000 units annually over the five-year period starting this year, about 8 percent lower than the annual average of the past five years. The potential supply of first-hand private residential units over the next three to four years is estimated at around 104,000 units.