Government insists property measures are here to stay

To further stabilise the property market.

In a report, Chief Executive CY Leung says the Government will retain its demand-management measures to stabilise the property market.

He made the statement after giving a luncheon speech on the long-term housing strategy today.

He said any amendment or exemption to the bill may give people incentive to find loopholes.

Secretary for Transport & Housing Prof Anthony Cheung said the two rounds of demand-management measures so far have been effective in stabilising the property market.

Market sentiment was exuberant before the measures were implemented, he said, adding prices have since stabilised.

“We feel that so far those measures have worked, and we have been trying to impress the legislators that the sooner we pass the bill into legislation, the more certainty we could provide to buyers and sellers in the market,” Mr Cheung said.

On whether country park land can be used for housing, Mr Leung said the Government has not raised the issue. He said Secretary for Development Paul Chan’s blog merely mentioned views expressed by some people in the community, and the Government is willing to listen to society’s views.