28th October 2023 – (Hong Kong) In a recent radio program appearance, Chief Executive John Lee emphasised that the role of the government is not to control home prices but to ensure a healthy development of the property market, thereby preventing excessive fluctuations. Lee also stressed the government’s responsibility to provide clear market information to citizens interested in purchasing a home.
Lee acknowledged that the implementation of the “spicy measures” was necessary when they were initially introduced, as soaring home prices fueled by scalping posed significant challenges. However, he believes that now is an opportune time to make appropriate adjustments to these measures.
The Chief Executive recognised the diverse views among citizens regarding the property market. While prospective buyers hope for a decline in prices, homeowners naturally wish for the opposite outcome.
When asked about the possibility of further scrapping the “spicy measures,” Lee indicated that he would closely monitor the market’s development before making any decisions. He also highlighted the newly formed task force dedicated to addressing issues related to subdivided flats. The task force’s top priority will be to address units that fail to meet basic requirements, particularly those that violate fire safety regulations.
Regarding the rent problem associated with subdivided flats, Lee emphasized the need for thorough study and careful handling of the issue. He emphasised that the government is committed to ensuring that tenants do not experience anxiety, as every family deserves a secure place to live.
Lee also touched upon the Top Talent Pass Scheme and highlighted the decline in Hong Kong’s unemployment rate, which currently stands at 2.8 per cent, indicating near-full employment. He further noted that there are job vacancies in the market waiting to be filled. Lee emphasised that if talented individuals choose to migrate to other countries, those nations will experience faster development, necessitating Hong Kong’s continuous efforts to attract and retain talent in order to thrive.
The post HK government focuses on healthy property market development, says Chief Executive appeared first on Dimsum Daily.
English (US) ·