【明報專訊】THE measures to stabilise the property market Financial Secretary John Tsang announced in his Budget speech represent an improvement on what Chief Executive Donald Tsang said last October. First, he acknowledged the inadequacy of the application list system and proposed remedial measures. Second, he admitted prices of luxury flats might bear on those of mid- and low-price ones. What Secretary for Development Carrie Lam said yesterday by way of explanation gives the impression that the government's strategy is to stabilise property prices indirectly. It intends to increase luxury flat supply to curb speculation in luxury property, thereby curbing speculation in small- and medium-sized units. It remains to be seen whether this strategy will prove effective.