TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 86

Speech by Hon. D. R. Ford, LVO, OBE, JP, Secretary for Housing, in Legislative Council on Wednesday, 15th May 1985

Landlord and Tenant (Consolidation) (Amendment) Bill 1985

Sir,

I move the second reading of the Landlord and

Tenant (Consolidation) (Amendment) Bill 1985.

The proposals in this Bill are made following

the third in a series of annual reviews of the rent control

system. They are designed to further relax rent control with

the object of an eventual return to free market conditions

but they take account of the situation in 1984 and the

prospects for 1985.

1984 saw a stable property market but towards the end of last year and in the early part of this year some rents have risen. The signing of the Agreement on the future of Hong Kong last year gave renewed confidence to the residents

of Hong Kong and this has helped to resuscitate the property market. But the availability of flats at the end of 1984, coupled with the forecast of a much above average supply in 1985 and 1986, should help ensure that any general rise in rent levels will be moderate. There may be exceptions to this general pattern. On Hong Kong island, for example, where there is a stronger demand for larger flats, some increases

may be greater. The Government will continue to monitor the market carefully and, if necessary, will take measures to ensure that the situation does not get out of control.

Let me

Bill.

now deal with the main proposals in the

/The first