REAL ESTATE MARKET (Repeal of anti-speculation measures)

The following Question stood in the name of Dr Wang Kai Yuen -

Dr Wang Kai Yuen: To ask the Minister for National Development in view of the rapidly deteriorating situation on the real estate market and the economic slowdown whether he will reconsider repealing all anti-speculation measures.

The Minister for National Development (Mr Lim Hng Kiang): Mr Speaker, Sir, the Government has reviewed the anti-speculation measures in the light of the present state of the property market. The key anti-speculation measures are still relevant in today's context and will be retained. Some changes will be announced by the Minister for Finance as part of the overall off-Budget package for the economy. MND will be issuing a press release on the details.