Chief Executive CY Leung says the Government is monitoring the property market and will take resolute action to cool it if required.
Mr Leung told the media today the Monetary Authority’s new mortgage-tightening measures will stabilise the financial system ahead of expected interest rate increases.
He called on people to learn from the lesson of the 1997 Asian financial crisis and consider cautiously their affordability in purchasing properties.
He said homebuyers will have more choices with the increasing supply of housing flats in the coming three to four years.
