SDEV speaks to the media after Land Supply Forum

     Following is the transcript of remarks by the Secretary for Development, Mr Paul Chan, at a media session after attending the Land Supply Forum today (October 17):

Reporter: There are many experts forecasting a drop in housing prices. How much of that trend is owed to an increase in land supply, or is it just a matter of interest rate hike in the US?

Secretary for Development: Property prices are subject to a number of different factors. Supply is, of course, one of the influencing factors. The general economic situation and the interest rate are the other considerations that will also come into play. What I want to say is, in respect of the residential property market, we have seen some fundamental changes, both in terms of supply and demand, as well as the payment ability of individuals because of the economic and employment situation.  So we do want to caution potential buyers to exercise extra caution in making such major investment decision.

Reporter: Mrs Lam (the Chief Secretary) said yesterday that the lead in water incident has been politicised, do you share this observation? And is there anything that you would like to say for the civil servants, especially those working in the Water Supplies Department?

Secretary for Development: I agree entirely with CS (the Chief Secretary for Administration) and her observation. And in fact her remarks are the consensus among the Government's senior officials. 

Reporter: Do you see that this incident has been politicised? Can you elaborate?

Secretary for Development: I think in her closing speech yesterday, CS made the point very clear. I really do not have much to supplement. Thank you.

Ends/Saturday, October 17, 2015
Issued at HKT 19:47