To maintain the healthy development of the residential property market, the Government has continued to adopt a two-pronged approach by increasing housing land supply in the long run under a supply-led strategy, and implementing demand-side management measures, including Special Stamp Duty, Buyer’s Stamp Duty and New Residential Stamp Duty so as to combat short-term speculative activities, curb external demand and reduce investment demand. These measures aim to stabilise the residential property market and to accord priority to home ownership needs of Hong Kong permanent residents amidst the prevailing tight housing supply situation. For more details about the various stamp duties, please visit the website of the Inland Revenue Department.