Group 1: Hong Kong Residential Market - The residential property market in Hong Kong is under pressure due to a large amount of unsold inventory, leading developers to offer discounts to clear stock [1] - It is predicted that residential property prices in Hong Kong will decline by up to 3% this year [1] - The current interest rates have fallen below 3%, reducing loan expenses and attracting more investors to enter the market [1] - Rental prices for general residential properties are expected to rise by 3-5% driven by demand from overseas talent and non-local university students [1] - An estimated land sale revenue of HKD 7-9 billion is anticipated for 2025-2026, with private development project premium land prices expected to rebound to HKD 8-10 billion [1] - Approximately 17,500 unsold primary units exist in the market, with an additional 30,280 primary residential units expected to be launched in the next 18 months [1] - The market's purchasing power is skewed towards new developments, putting continued pressure on secondary property prices in the short term [1] Group 2: Hong Kong Luxury Market - The luxury property market in Hong Kong is expected to remain stable, with properties priced between HKD 20 million and HKD 40 million projected to see a price decline of 0% to 5% [2] - Properties priced above HKD 40 million are expected to maintain stable prices [2] - The rental activity in the Mid-Levels area is relatively active, particularly for units sized between 800 to 1,000 square feet, which are favored by families needing extra space [2] - Overall, luxury rental prices are forecasted to increase by 0% to 3% this year [2]