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.


More to be done to tackle Hong Kong's housing problem. Photo: Bloomberg

Letters to the Editor, December 31, 2012

Flats initiative a short-term measure

I was delighted by the government's announcement on Monday, December 24, that it planned to boost land supply [in the coming quarter] for the construction of 3,000 new apartments.