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Property cooling measures to stay

August 06, 2017

Financial Secretary Paul Chan says it is not the time to ease property cooling measures, however, the Government will closely monitor the market situation.


Speaking to the media tonight before departing to join Chief Executive Carrie Lam in Beijing, Mr Chan said the Government's property cooling measures have been effective in curbing demand from speculators.


He said relaxed property measures will prompt those on a tight budget to buy flats, but they will face a heavy financial burden when property prices change due to US interest rate rises.


Mr Chan reminded potential homebuyers to stay alert to risks, especially the US interest rate hike cycle which will eventually affect Hong Kong's interest rates.


The Government will monitor the property market closely and respond to public demand for affordable housing, he added.

Sales of First-hand Residential Properties Authority