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Hong Kong stamp duty

Hong Kong stamp duty
To rein in the city's runaway housing prices, Hong Kong's Financial Secretary John Tsang Chun-wah announced an additional 15 per cent stamp duty on non-permanent-resident and corporate buyers starting from October 27, 2012. The move prompted speculation over the effectiveness of taxation on the real estate market and criticisms that Hong Kong was turning away from its roots as a free market economy in favour of a more protectionist market environment.
last updated:
9 September, 2024
Home shoppers flock to a sales office of Blue Coast II, Phase 3C of The Southside, developed by CK Asset in Wong Chuk Hang, at Fortune Metropolis in Hung Hom on October 19, 2024. Photo: Jonathan Wong
Hong Kong property

Mainland Chinese buyers rush into Hong Kong property, agents say

Home purchases by mainland buyers surged 69 per cent in the first nine months of the year, accounting for nearly a quarter of transactions.

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Hong Kong property

Hong Kong home sales fall to earth following end-of-curbs flight

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Hong Kong property

Most Hongkongers see home prices rising in curb-free market: Citibank survey

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Hong Kong property

Analysis | End of the rollercoaster? Why Hong Kong’s soaring house prices may be in the past

Even in the absence of the buying restrictions, a healthy supply and elevated interest rates mean the city’s infamously expensive house prices are unlikely to return to the kind of breakneck growth seen in the past, analysts say.

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Some analysts expect to see Hong Kong’s housing markets settle into a new normal in which skyrocketing and often volatile home prices are a thing of the past. Illustration: Henry Wong
Hong Kong property

Hong Kong property sales hit 10-month high in March, to rise further in April

Hong Kong property sales rose to a 10-month high in March, surpassing 5,000 deals a month after the government lifted all property cooling measures, data from the government shows.

Hong Kong property

Hong Kong home prices worsen in February to lowest level since September 2016

The lived-in home-price index fell 1.7 per cent in February versus 1.2 per cent in January, according to the Rating and Valuation Department. Prices have fallen for 10 months in a row, losing 13.7 per cent in value.

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Hong Kong property

Mainlanders benefit most from Hong Kong curb removal, snap up luxury homes: JLL

Mainland Chinese buyers are aggressively snapping up new luxury homes worth HK$30 million or more since the removal of all of Hong Kong’s property curbs last month, JLL says.

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A property agent’s shop in Hong Kong. “We maintain a cautious view on the market outlook,” a JLL executive says. Photo: AFP
Hong Kong property

Hong Kong property: bullish Henderson to launch 7,100 new homes this year

The developer of Belgravia Place says it will launch 7,100 new homes this year, 5 per cent fewer than the 7,655 units offered in 2023. The firm reported flat underlying profit of US$1.2 billion last year.

Hong Kong economy

Hong Kong home sales double after curbs ditched but prices have yet to jump

Simon Siu, chairman of Estate Agents Authority, says decision to scrap extra stamp duties last month was ‘shot in the arm’ for ailing property market.

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Hong Kong property

Wharf sees more struggles ahead in China after weak 2023 property sales, profit

‘China faces considerable domestic challenges, from a sluggish property market to weak consumer sentiment, Wharf says. After a poor result in 2023, more time is needed to revive the property markets, it says.

Hong Kong skyline, showing the Tsim Sha Tsui waterfront, from SKY100 Observation Deck, in July 2023. Photo: Elson Li
Hong Kong housing

Editorial | End of curbs must not lead to return of Hong Kong property speculation

Large supply of homes due to come online soon in Hong Kong will, hopefully, help thwart the rise of a new generation of speculators.

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Listings for residential properties for sale are seen at a Midland Holdings Ltd. store in Hong Kong. File photo: Bloomberg
Hong Kong budget 2024-25

Letters | Hong Kong’s removal of property cooling measures will widen wealth gap

Readers question the rationale behind the removal of stamp duties intended to cool the property market, and point to the benefits of the measure.

Hong Kong property

SHKP in pole position to benefit from Hong Kong’s property easing measures

Hong Kong’s largest developer by market capitalisation is being tipped by analysts to emerge as the ‘prime beneficiary’ of the city’s removal of all property cooling measures.

Hong Kong property

Explainer | With Hong Kong’s property curbs over, keep an eye out for these 5 projects

The removal of property curbs in the Hong Kong government’s budget announcement last week has generated a very encouraging response in the housing market.

A real estate agency in Hong Kong. Photo: Bloomberg
Hong Kong property

Mainland buyers throng to Hong Kong property sales after removal of curbs

The removal of all property sector cooling curbs in Hong Kong has sparked immediate interest among mainland Chinese buyers, who still perceive real estate in the city as a lucrative investment option, industry insiders said.

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A property agent’s office in Hong Kong’s Fortress Hill. The number of transactions is expected to surge by 80 per cent to 5,750 deals this month, Ricacorp Properties says. Photo: Eugene Lee
Hong Kong budget 2024-25

Hong Kong finance chief unveils budget aimed at replenishing city’s coffers

Financial Secretary Paul Chan surprises market by going for a complete removal of all property cooling measures with immediate effect.

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Hong Kong budget 2024-25

End of Hong Kong property curbs will not fuel speculation, says government

Financial Secretary Paul Chan says property market conditions have changed since cooling measures were introduced about a decade ago.

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Hong Kong economy

Wealthy and travellers targeted by Hong Kong’s new revenue-boosting measures

Residents to pay more tax on annual salaries exceeding HK$5 million, while government will revive 3 per cent tax on hotel stays and raise tobacco duty.

Financial Secretary Paul Chan has said that additional revenue could be created only by making the “economic pie” bigger and enabling more robust and diversified growth. Photo: Elson Li
Hong Kong budget 2024-25

12 things to know about Hong Kong’s budget and how it will affect you

Immediate scrapping of property curbs, issuing of large amounts of bonds for infrastructure among measures unveiled in finance chief Paul Chan’s budget address.

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Hong Kong budget 2024-25

As it happened: Hong Kong budget – all property curbs scrapped to boost market

All decade-old property cooling measures scrapped with immediate effect as authorities look to revive market.

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Banking & finance

Hong Kong property deals pick up as curbs seen relaxed at government budget

Secondary market transactions in Hong Kong flats jumped last week, as buyers took advantage of seven-year low prices, before a possible further relaxation of property cooling measures.

General view of City One Shatin. 21FEB24 Photo: Jelly Tse
Hong Kong budget 2024-25

Hong Kong’s finance chief set to remove some property cooling measures

Insiders hint ‘only some measures might be lifted’ while analysts say they are sceptical that home prices will soar even if all cooling measures are removed.

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To aid Hong Kong’s troubled property market, some cooling measures are to be removed. But analysts are sceptical that home prices will soar as a result. Photo: Shutterstock
Hong Kong property

Hong Kong home prices fall for ninth month, intensify calls for lifting curbs

Hong Kong’s lived-in home prices fell for the ninth straight month in January, intensifying calls to roll back curbs on the sector even as the government is seeking to rein in a ballooning deficit estimated to exceed HK$100 billion (US$12.8 billion).

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International Property

Hong Kong luxury home prices to rise as Singapore’s fall next year: Knight Frank

The worst is likely over for the luxury property segment globally, with prime home prices set to rise more than previously anticipated in 2024, according to Knight Frank’s Global Prime Residential Forecast.

Hong Kong property

Hong Kong home sales jump as impact of property easing measures filters through

Transactions for 2,767 new and lived-in homes were completed last month, a 22 per cent increase from October. But overall property deals are on track to end below the all-time low of 59,619 in 2022.

Property listings are displayed on the window of a real estate agency in Quarry Bay. Photo: Elson Li
Hong Kong housing

Hong Kong’s property market needs time to adjust to measures: John Lee

Chief Executive John Lee stresses property market woes are not unique to Hong Kong, may persist due to high interest rates.

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John Lee announced the property cooling measures in his second policy address last month. Photo: Yik Yeung-man
Hong Kong housing

Editorial | Sensible compromise on stamp duties right path for Hong Kong property market

Changes announced in the policy address relaxed some curbs on home sales for the first time in more than a decade. A close eye needs to be kept on the changes so that the market can recover without overheating.

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Hong Kong politics

Hong Kong leader unveils comprehensive blueprint to rescue sluggish economy

In a lengthy and wide-ranging policy address, Chief Executive John Lee also put the focus on greater integration with mainland China.

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