They say market is picking up and the government should resume land sales
Developers are calling on the government to abandon its efforts to stabilise the residential property market since it has shown signs of improvement.
They said the government should allow the market to recover on its own and that the current suspended land sales should be resumed next year.
Cheung Kong (Holdings) executive director Justin Chiu said that in light of improving sales there was no need for any new government measures to prop up the local home market.
Nan Fung Development sales manager Victor Mak Yat-king also said the government should not extend its land sales suspension.
'Taking into account the current market situation, the government does not even need to introduce any new administrative measures to intervene in the market,' he said.
Lo Yuk-sui, chairman of small developer Regal Hotels International, also said the government 'does not need to do much' to help the property market.