The financial secretary of Hong Kong Special Administrative Region government John Tsang on Monday urged the public to be prudent and aware of the potential risks when buying property.

He made the plea in the Legislative Council Monday, citing the property prices in the city in April were up 8 percent compared to last December.

He said the government will introduce further measures when necessary to ensure the stable and healthy development of the residential property market.

He also warned Hong Kong must be well-prepared to face deterioration in the external environment as the city's economy slows further, and government cannot rule out adjusting the economic growth forecast if the unstable external environment continues.

Hong Kong's Gross Domestic Product growth has been forecast of 1 percent to 3 percent for 2012 as a whole.