Regarding the proposed local first-time homebuyers scheme by the Hong Kong Government, some industry participants suggest that developers can make good use of the agricultural lands they own through a land premium concession. It is hoped that the housing prices can become cheaper if the developers can successfully get the premium concessions. Also, it makes it possible to shorten the time for searching lands by government, hoping to make both developers and the government a win-win situation. Among all, one of the proposals is to develop a public-private cooperation, with some units tailor made for local first-time homebuyer scheme only and the remained units reserved for private development. In light of the Government’s strong determination to carry out the plan, the market expectation for speeding up the agricultural land conversion increases. This, in turn, is set to be a good news to the local property developers, particularly those who have rich agricultural land banks. In light of this, we believe the Hong Kong property stocks will remain to be a market focus in the near term.