Despite the recent interest-rate rise, the long-term prospects for Hong Kong's economy and property market are still positive, Financial Secretary Henry Tang said Monday.

Speaking after launching of the Safety Partnering Program, Tang said Hong Kong's interest rate has a direct relation with US' interest rate. Although local interest rates have recently increased, Hong Kong's economic situation and property market are still healthy.

The secretary stressed the forecast of GDP growth for 2005 is unchanged at 4.5 percent to 5.5 percent.

When asked whether the interest-rate rise will have a negative effect on home buyers' sentiment, Tang said the interest rate is only one of many factors for home buyers to consider.

He stressed potential buyers should carefully consider their own financial situation and the flat's quality when making purchasing decisions.

Source: Xinhua