Property prices have been developing in a 'stable' manner following three attempts to curb rampant speculation since 1994, the Secretary for Housing claimed yesterday.
Dominic Wong Shing-wah said the anti-speculation packages had managed to 'plug all the usual channels of speculation'.
'We have done our job well and the prices of flats are developing in a very stable trend,' he told a Hong Kong Institute of Architects forum.
Mr Wong said the measures had demonstrated the Government was not merely making empty threats.
He said the Government had prepared stringent measures in case runaway speculation re-emerged.
These included the introduction of new taxes, legislation and administrative measures.
'We cannot say exactly when such measures would be activated, but we will be watching the situation very closely,' Mr Wong said.
