The government is unlikely to alter the land application list system after a review expected to be released next week, according to the Hong Kong Institute of Surveyors. The institute, which has regular meetings with the Lands Department, said it did not expect the government to turn around on its land policy because it would not want to risk destabilising the market. Its comments follow calls from developers to revamp the system after repeated failures to trigger land sales recently. But the institute believes the existing system works well and does not think reform is urgent. 'We don't encourage any government intervention in the property market and the market-driven land application list system is a suitable mechanism for Hong Kong,' institute president Cheung Tat-tong said yesterday. 'However, we do suggest the government slightly adjusts the system by putting some luxury residential land sites in the list, which have strong demand, up for auction to improve market efficiency.' Under the application list system introduced in 1999, a site is put up for auction only after a developer submits a bid that meets an undisclosed minimum reserve price set by the government. Thirty-five sites have been offered for auction by the government this financial year, but so far no developer has successfully triggered an auction. As a result, developers have urged the administration to disclose its reserve price for a site to speed up the sales process. Yu Kam-hung, chairman of the general practice division council of the surveyors' institute, agreed there was a need to enhance the system's transparency, but he warned that disclosing the reserve price could increase market volatility as the government might be seen to be guiding prices. A spokeswoman for the Lands Department said: 'We are considering various options to facilitate smoothening of the land application list system. An announcement will be made after the review is completed.' No timetable was set to conclude the review, which was started earlier this year, she added.