Chief Executive CY Leung says the Government's efforts to increase land supply and manage housing demand are beginning to bear fruit, as quarterly data shows the projected supply of private homes has been raised to a record high of 86,000 for the coming three to four years.
Speaking to reporters ahead of an Executive Council meeting today, Mr Leung noted the Government had implemented special measures and increased land supply, while also regularly releasing supply figures to increase transparency. He urged potential property buyers to consider the latest data.
Mr Leung said external factors such as interest rates affect the local property market, and if rates rise, property demand will likely go down, but the Government will continue to stabilise the market from a macro perspective.
The Chief Executive also noted that public housing supply is on the rise, but the Government faces challenges reaching the long-term supply target. He called on citizens to support more public housing construction, even if it involved land-use changes.
