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The Chief Executive-elect's Office said today (June 19) that Chief Executive-elect, Mr C Y Leung's remarks on the "Hong Kong property for Hong Kong residents" policy in a TV interview yesterday were in line with his manifesto.
Mr Leung said in the interview that he proposed the "Hong Kong property for Hong Kong residents" policy to help prevent a situation arising where Hong Kong residents' chances of purchasing a flat would be affected by an influx of non-Hong Kong buyers.
He said that although non-Hong Kong residents are still coming to the city to purchase properties, they are not doing so in numbers that affect resident Hong Kong buyers. The "Hong Kong property for Hong Kong residents" policy is very flexible in that it requires no legislation and can be activated simply by including a restriction in the land lease, and can thus be implemented according to market developments.
Mr Leung's Chinese manifesto states clearly that the "Hong Kong property for Hong Kong residents" policy will be introduced if and when the property market becomes overheated, to assist those home buyers whose income exceed the limits prescribed by the Home Ownership Scheme. Under the proposed policy, new sites will be selected which are suitable for middle-class housing and in the relevant land lease a restriction will be included to the effect that the completed housing units can only be sold to Hong Kong residents (including non-permanent residents).
Ends/Tuesday, June 19, 2012
Issued at HKT 21:24
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