The government will not sell any commercial sites in the coming year due to a sluggish commercial property market.

"In view of the high vacancy rates of offices in recent years and the relatively ample supply in the next few years, the government will not roll out any commercial site for sale in the coming year to allow the market to absorb the existing supply," Financial Secretary Paul Chan said in his budget speech on Wednesday.

As for residential sites, Chan said the 2025-26 land sale list comprises eight plots.

Along with other property projects, it's expected to generate about 13,700 units.

"The government will closely monitor market situation and development, and roll out sites in a paced and orderly manner," Chan said.

He added that the government will prepare land for the production of 80,000 private units in the next five years, with about 65 percent of the plots coming from the Northern Metropolis and Tung Chung New Town Extension.

On public housing supply, Chan said the government has identified enough land to meet the supply target of 308,000 flats over the next 10 years.