'Buyers have more options now spicy measures dropped'
The Secretary for Housing, Winnie Ho, on Saturday said the property market has become active and potential homebuyers now have more options, following the removal of so-called "spicy" measures.  "I'm glad to see there are options for residents. People who want to buy property have different financials, family situations, and preferences as to where they want to live, and the size of their flat. Talents coming to Hong Kong also have different needs," she told a Commercial Radio programme. "It's most important the property market offers a plethora of choices for everyone. When the supply is sufficient, property prices will naturally be well adjusted." The minister said the government must continue to boost housing supply, as a stable source is "the foundation of confidence." Construction has started for around 80 percent of public housing flats set to be built in the coming five years, Ho added.  Official figures showed the current average wait for a public flat rose to 5.8 years in the final quarter of last year, which the housing chief said was partly due to construction delays. "[The current average wait] might stay as it is for a few quarters, and then it will drop. The main reason for a change is the presence of light public housing, where there will be more units for those in need," Ho said.  "The target remains unchanged, which is capping the waiting time [for public housing] at six years and cutting it to four-and-a-half years by 2026/27."