Property measures necessary: CE
Sep 17, 2013 (M2 PRESSWIRE via COMTEX) --
Chief Executive CY Leung says measures to stablise the property market are necessary because the rise in property prices will affect people's ability to afford housing and financial stability.
Speaking to reporters before attending an Executive Council meeting today, Mr Leung said prices had stablised, and overseas and speculative demand had decreased after the measures were introduced.
He said the stock market had risen due to speculation over external macro-tightening and quantitative easing measures, and property prices would have followed if the Government had not put the measures in place.
He said the Government has insisted the measures are necessary, and hopes to gain support from the Legislative Council and members of the public.
Meanwhile, Mr Leung said the Government is concerned about Hong Kong's ability to receive visitors and has been assessing the issue, and does not want people's lives to be affected by too many visitors coming to Hong Kong.
As such, he has requested to suspend multiple-entry permits to non-residents of Shenzhen. At the same time, the number of Mainland cities whose residents can come to Hong Kong with such permits has not increased in recent years.
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