About 99 hectares of land for housing development is now available for disposal, Secretary for Housing, Planning & Lands Michael Suen says.

Mr Suen told legislators today the Government's objective is to provide sufficient land for the community's development needs and will keep the estimated land supply under regular review to determine the actual quantity of land to be put on the Application List.

He said the Government will closely monitor market developments in the next few months to draw up a suitable Application List for 2005-06.

It is consulting the trade with a view to releasing the number of units available in the market quarterly by end of this year or early next year.

He said there is no bubble in the property market, and there will be no shortage of future flat supply as the Government has undertaken an exercise to co-ordinate an even and steady flow of supply over the next few years.

These involve the phased flat production from 2007 to 2016 of some 67,000 units in the case of the railway corporations. As regards the Urban Renewal Authority, some 8,200 units will be produced from 2005 to 2010.