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.
An alliance of property agents against the government's market-cooling measures said they hoped to collect 200,000 signatures in a month to urge withdrawal of the policies.Wednesday, 7 August, 2013, 4:07am 9 comments
The government would neither relax nor withdraw its property-cooling measures as hot cash remained abundant in the global market, Chief Executive Leung Chun-ying warned on his blog yesterday.
His comment came a day after Financial Secretary John Tsang Chun-wah appealed on his blog to lawmakers to pass the bills for the property taxes that were introduced over the past few months.6 Aug 2013 - 3:36am 14 comments
Should first-time homebuyers be encouraged to enter the market now? For Joseph Tsang, managing director of property consultants Jones Lang LaSalle Hong Kong, the answer is a straightforward no. Not in the present climate.10 Jul 2013 - 2:43am 1 comment
Despite measures to cool the property market and help poor people since last July, housing remains a severe social problem for Chief Executive Leung Chun-ying's administration.8 Jul 2013 - 7:29am 1 comment
Three events in recent days have focused needed attention on the international roles of China and Hong Kong: President Xi Jinping's high-profile visit to the US, Chief Executive Leung Chun-ying's almost invisible visit to the US, and the case of ex-CIA operative Edward Snowden.7 May 2015 - 12:48pm 7 comments
Lawmakers have warned the government that they will vote against a proposal to double stamp duty on property purchases if the administration fails to make substantial changes.7 May 2015 - 12:48pm 3 comments
More organisations and individuals have joined the chorus of criticism against the doubling of stamp duty on the purchase of commercial properties, ahead of a meeting with lawmakers today.
It could become prohibitively expensive for businesses to buy their own premises to avoid high rental costs, the Royal Institution of Chartered Surveyors said.7 May 2015 - 12:48pm
The British Chamber of Commerce in Hong Kong said the doubling of stamp duty on the purchase of commercial properties would be harmful to the growth of small and medium-sized enterprises.7 May 2015 - 12:48pm
Chambers of commerce that represent hundreds of foreign firms in Hong Kong are voicing unhappiness at the recent doubling of stamp duty on commercial property purchases.7 May 2015 - 12:48pm 1 comment
Rising property values have increased our equity in our Hong Kong home. We are thinking of increasing our current home mortgage to buy a property in Britain or Canada. We are in our mid-50s and plan to repay the loan from the sale of our Wan Chai investment flat when we retire at 65. This flat is mortgaged to about 70 per cent of its value. What do you think?7 May 2015 - 12:48pm
With limited supply and rife speculation, the cost of property in Hong Kong is notoriously high, which seriously challenges the city's economic development and the public's standard of living.7 May 2015 - 12:48pm
The current Buyers Stamp Duty (BSD) is only really effective in a rising market and a more equitable form of tax such as a Capital Gains Tax (CGT) now needs to be planned for and implemented as a replacement as the market corrects.7 May 2015 - 12:48pm 1 comment
Commercial property deals in the city fell sharply over the past three months as short-term investors shied away after the doubling of stamp duty on the purchase of both residential and non-residential properties.7 May 2015 - 12:48pm 3 comments
My wife and I are permanent residents and jointly own our home. We have separated and I would like to buy my own flat. Will I be exempt from the new higher stamp duties?7 May 2015 - 12:48pm
The exodus of investors from Hong Kong's property market - sparked by the government's measures in February to curb speculation - is continuing, with buyers now seeking alternatives in the West.7 May 2015 - 12:48pm