September 17, 2013

Chief Executive CY Leung says measures to stablise the property market are necessary as a rise in property prices would affect people’s ability to afford housing, and financial stability.
 
Speaking to reporters before an Executive Council meeting today, Mr Leung said prices had stablised, and overseas and speculative demand had fallen after the measures were introduced.
 
He said the stock market had risen due to speculation over external macro-tightening and quantitative easing measures, and property prices would also have gone up if the Government had not put the measures in place.
 
He said the Government insists the measures are necessary, and it hopes to gain support from the Legislative Council and the public.
 
Meanwhile, Mr Leung said the Government is concerned about Hong Kong’s ability to receive visitors and has been assessing the issue. It does not want people’s lives to be affected by too many visitors coming to Hong Kong.
 
He has asked for a suspension in issuing multiple-entry permits to non-residents of Shenzhen. At the same time, the number of Mainland cities whose residents can come to Hong Kong with such permits has not increased in recent years.