Development secretary Bernadette Linn on Friday said the government will continue to boost land supply, a day after no property developers put in a bid for an MTR residential project in Tung Chung.

The official said developers tend to adopt a wait-and-see approach amid rising geopolitical tensions and an uncertain external economic environment.

"Generally speaking, property developers have become more cautious and more conservative. I think we have to admit that that's what's happening right now," Linn told reporters as she wrapped up her official trip to Beijing.

But Linn stressed the government is as committed as ever to increase land supply.

"The purpose of creating land is to provide sufficient housing and so that we can live in more spacious flats, and to cater to the demand for economic and industrial land. So I think we have to get a clear understanding of this direction and move forward," she said.

"Of course we will consider the market situation when it comes to when and how we sell individual pieces of land, but we can't slow down in creating land because of the current economic condition or short-term uncertainties."