In Focus
RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

No further property measures will be rolled out: FS Chan

Flat buyers are urged to be cautious in purchasing units.

The 15% stamp duty on property transactions introduced last November has cooled the property market and no further measures will be considered to manage demands in the meantime due to market uncertainty.

Financial Secretary Paul Chan made the statement in a televised panel discussion on his 2017-18 Budget tonight, noting the Government's efforts to increase flat supply will pay off in the coming years.

He expressed reservations on the proposed duty concession to first-time property buyers which might fuel speculation and create difficulties for those lacking financial security should property prices fall.

He reminded potential flat buyers to exercise caution in making decisions due to uncertainty over the US interest rate.

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