Financial Secretary John Tsang says the Government is keeping a close watch on the property market, and will respond appropriately as the situation warrants.

Speaking to the media today, Mr Tsang referred to an International Monetary Fund report published yesterday. It noted the fiscal measures the Government has deployed will be needed to spur an orderly market adjustment and safeguard financial stability.

The report recommended that the measures be lifted only when systemic financial sector risks dissipate, in line with the market’s normalisation.