The Legislative Council continues to debate the annual budget for this year. Secretary for Housing Wong Wing-yin stated that the market has responded positively to the announcement of the comprehensive cooling measures being lifted.
Wong Wing-yin mentioned that in April this year, nearly 8,600 residential property sales and purchase agreements were submitted to the Land Registry, which is almost 1.2 times higher than the approximately 4,000 transactions in March. Compared to April of last year, the number has increased by more than 80%, indicating a high level of market activity, a significant increase in transaction volume, and reflecting that the lifting of cooling measures has effectively boosted market confidence, keeping property prices relatively stable.
Addressing concerns about a potential resurgence of speculative activities following the withdrawal of the cooling measures, Wong Wing-yin reassured that the government will remain vigilant and closely monitor the residential property market situation. They will adopt timely and appropriate measures to respond dynamically to market changes.