Let me see if I've got this straight...

So, after Hong Kong property prices rise into the stratosphere, making a home unaffordable for anyone who doesn't have one already, the government finally recognises that the market is "overheated".  To fix this, they introduce extra stamp duty on property, making it even more unaffordable.

With me so far?  Good.  Now after months of this, the market is almost dead.  No one can afford to buy, so no one can sell.  So some developers start making promotional offers, including stamp duty rebates, in an effort to get the market restarted.  This, our esteemed Chief Executive solemnly declares on last night's news, "could have a negative impact on the property market".

So, let me see if I've got this straight.  The government makes property more expensive in order to make it more affordable.  Then when this bizarre policy somehow actually starts working, with developers effectively lowering their prices, far from welcoming this, the government pronounces it to be unhelpful.

You couldn't make this stuff up, could you?  Does anyone understand what's happening?  I can see two possible explanations:

1. The government doesn't know what the hell it's doing; or
2. despite its proclaimed commitment to more affordable housing, the government is secretly conspiring to keep prices out of reach of aspiring homeowners.

Take your pick...  I plump for number 1, but this being Hong Kong, number 2 isn't totally unthinkable.