The Government is keeping a close watch on the property market and will respond to any changes appropriately, Secretary for Development Paul Chan says.
Speaking to the media after a radio programme today, Mr Chan said the private residential property market supply for the next three to four years will be about 74,000 units.
Over the next five years the private sector will produce about 14,600 flats a year on average, compared to just 11,400 flats in the past five years, he said.
Noting the property price gap between the first and second-hand markets has been narrowing, Mr Chan said it shows developers’ sentiment towards the market situation in the coming few years.
