The Government is to tighten the granting of land for rail-related housing developments to try to reduce the negative impact of an oversupply of flats on the property market.
Chief Secretary Donald Tsang Yam-kuen said the new minister in charge of housing would scrutinise the disposal of land for the Mass Transit Railway Corporation and the Kowloon-Canton Railway Corporation.
'We should not merely consider the granting of land purely from the perspective of transport, but also from the perspective of the property market,' Mr Tsang said.
'The property market is very important to everyone and to the society as a whole . . . We don't want to do anything that distorts the market,' he said.
'It is not fair to some people if there is a sudden increase of flat supply [from rail companies] in the market.'
Mr Tsang said the Government had heard concerns raised by some people that the granting of land for rail-related property projects could upset the market.
