PROPERTY developers and consultants are calling on the Government to apply more sophisticated measures such as re-zoning and increasing plot ratios to cool the property market rather than just putting large parcels of land on to the market. In answers to a survey by Sunday Money , Hong Kong developers agreed that releasing more land was the most effective way of curbing soaring property prices. But they said more was needed than just putting large parcels of land on to the market. And more than half said the Government should have acted sooner to defuse the potential crisis. The developers rejected any plan for further administrative measures such as lowering the ceiling on mortgage lending or introducing a capital gains tax. The survey found that rising interest rates and bank lending restrictions were eating into demand, placing more emphasis on boosting land supply to help tackle the problem. Surprisingly, however, 37 per cent regarded increasing plot ratios as either more important than or equally important as releasing more residential land on to the market. They also believed that, in order to curb property prices, speeding up the release of land in the coming land sales programme over the next few months was more important than allowing the private sector to contribute to developing infrastructure. Knight Frank Kan property consultants partner Herman Hui urged the Government to review its town planning policy. ''Most zoning densities are historic or do not reflect the population's desire to live near to the city. The release of a 200-hectare plot in Tin Shui Wai will not solve the problem,'' he said. The view was echoed by Henderson Land chairman Lee Shau-kee. He urged the Government to speed approval procedures for redevelopment projects to ease Hong Kong's land shortage problem. ''The prime solution is to step up approvals on redevelopment projects. To increase land supply is a secondary method,'' he said. Redevelopment has accounted for more than half the new flats from the private sector in the past few years. The survey polled the top and second-line developers and property consultants in Hong Kong. Out of 20 questionnaires, eight developers and three consultants responded. The poll found that a majority of respondents lay the blame for the rises on the Government, which they believe has delayed tackling the land shortage problem for too long. All respondents agreed that administrative means - including a capital gains tax or further tightening of mortgage lending - should not be used as immediate remedies. Of the respondents, 63 per cent did not think there was a danger of a sharp correction in prices in the near future, while 27 per cent did. An absolute majority did not think property developers should have a role in curbing speculation, while some suggested they should accelerate development programmes. The respondents also made other suggested solutions to the property bubble. Some said the Government should take steps to monitor property ''hoarding'' in the middle-to low-end market. A vacancy levy should be imposed in order to increase the cost of keeping the property empty. The longer the property remained empty, the heavierthe levy should be. Because of the wide gap between property rentals and price increases in Hong Kong, speculators deliberately allow their flats to stay empty to facilitate quick sales. Respondents also said banks should review lending policies towards older properties. The banks are now forcing first-time home buyers to buy new flats which offer higher mortgage percentage payments, making them prey to greedy developers. Others proposed that the Government should institute a programme to sell all public housing flats over the next few years. Property prices would drop immediately as a result of the release of a huge number of saleable flats. Hong Kong Society of Real Estate Agents president Michael Choi said that the Government had missed a golden opportunity to arrest the upward trend in property prices about three years ago. ''At that time, it acknowledged Hong Kong's property craze was stemming from an acute shortage of land supply and released an extra five hectares of land in the land sales programme.'' ''Although the amount released was symbolic rather than substantial, it was one step in the right direction,'' he said. However, the Government subsequently turned to other administrative measures which had succeeded only in deflating demand temporarily, he said.