The key to tackling Hong Kong's housing problem is to increase land supply.

Speaking to the media before today's Executive Council meeting, Chief Executive Carrie Lam said the Government is very concerned about surging property prices.

"The ultimate solution lies in finding more land to build more housing units, either for sale or for rental to people of Hong Kong, and my administration will exhaust every measure in order to achieve that objective."

She also dismissed a report about using some of the developments above MTR stations for building public housing as speculative.