CE's statement on announcement of demand-side management measures for properties

     The Chief Executive, Mr C Y Leung, made the following statement on the new round of demand-side management measures for properties announced today (February 22):

     After the introduction of two demand-side management measures in late October 2012, the Financial Secretary, Mr John C Tsang, and the Chief Executive of the Hong Kong Monetary Authority, Mr Norman Chan, this afternoon announced a new round of measures to address the overheated property market. This shows that the Government has been monitoring the property market, including both the residential and non-residential property markets, and will launch new measures whenever necessary to reduce the demand for properties.

     The new measures will be applicable to non-residential properties as an overheated non-residential property market will also affect the financial system and the overall economy.

     The Government will continue to monitor the property market. If the market continues to get overheated, we will introduce further demand-side management measures in a timely manner.

Ends/Friday, February 22, 2013
Issued at HKT 19:10