The policy relating to the Hong Kong Property for Hong Kong People scheme remains unchanged, Secretary for Development Paul Chan said.
Mr Chan told the media today that under the scheme, buyers must be a holder of a valid Hong Kong Permanent Identity Card and the restriction also applies to the subsequent resale of flats within 30 years.
He clarified that developers can apply to the Lands Department to remove the conditions in five years after purchasing sites, but applications will not be automatically approved.
The department will examine each case and every lease modification, taking into full consideration the government policy.
Mr Chan also said the number of non-Hong Kong buyers in the local property market has dropped to a low level since measures such as special stamp duties were implemented, adding there is no urgent need to continue the scheme at this stage.
