• Sat
  • Dec 27, 2014
  • Updated: 9:24pm

Stamp Duty

New stamp duty may lead to fewer old buildings being redeveloped

A further drop in acquisitions for redevelopment is expected. Photo: Dickson Lee

The imposition of extra stamp duties, which caused a 72 per cent drop last year in developers' purchases of old buildings for redevelopment, will continue to affect the sector this year, property consultants say.

Wednesday, 5 March, 2014, 5:07am 1 comment

Home sales rise as owners cut asking prices

Analysts expect home prices to continue to edge down. Photo: AFP

Home sales in the secondary market picked up in the past week as more flat owners cut their asking prices. Analysts said the outlook was negative, with prices edging down.

5 Mar 2014 - 3:39am

The limits of Chinese parochialism

Xi Jinping's visit may have had little substance but confirmed the near equality with the US that China is now widely assumed to possess. Photo: AP

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.

16 Jun 2013 - 2:25am 7 comments

Lawmakers warn of stand against stamp duty move

Groups including foreign chambers of commerce say the government's measures make no distinction between long-term investors and speculators. Photo: Dickson Lee

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.

14 Jun 2013 - 3:49am 3 comments

Stamp duty increase provokes protests

Property tax will double on sales over HK$2 million if the government's bill is approved. Photo: Sam Tsang

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.

13 Jun 2013 - 5:03am

Chamber cries foul over stamp duty rise

The British chamber says the stamp duty rise will hurt the business community and overall competitiveness of Hong Kong. Photo: Bloomberg

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.

4 Jun 2013 - 3:57am

Foreign chambers of commerce hit out at doubling of Hong Kong stamp duty

Manulife paid HK$191 million more to purchase its new tower in Kwun Tong.

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.

31 May 2013 - 10:59am 1 comment

Prospect of property slump adds to risk

Prospect of property slump adds to risk

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?

20 May 2013 - 4:18am

Double stamp duty on non-residential premises will hit businesses hard

Photo: AP

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.

16 May 2013 - 2:47am

Market changes call for stamp duty alternative

The current Buyers Stamp Duty is effective in a rising market, whereas cooling prices require a different approach. Photo: Bloomberg

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.

15 May 2013 - 3:06am 1 comment

Stamp duty chokes sales of Hong Kong commercial property

One Bay East

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.

8 May 2013 - 2:36am 3 comments

Saving stamp duty means leaving home

Saving stamp duty means leaving home

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?

6 May 2013 - 4:35am

Property investors switch focus from East Asia to the West

Piers Brunner of Colliers International says investors are looking for attractive opportunities outside Hong Kong. Photo: Edward Wong

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.

1 May 2013 - 3:44am

A bird in the hand may cost you a flock

A bird in the hand may cost you a flock

I'm buying a Hong Kong residential property. Should I buy it in my own name or through a company and trust arrangement?

29 Apr 2013 - 3:59am

Property prices may fall 20pc after curbs, agent Savills says

Opus Hong Kong at 53 Stubbs Road, The Peak, by Swire Properties. Photo: Nora Tam

The prediction follows in the wake of a sharp drop in sales of commercial and residential properties since the government raised stamp duties payable on all commercial and non-residential properties sales effective from February 22.

24 Apr 2013 - 5:20am