THE proposed concessions for stamp duty on selected property transactions will cost the Government $550 million in the current financial year and $2.7 billion to 1999-2000, Mr Tsang said.
He adjusted the structure of stamp duty rates to relieve the financial burden on buyers of lower and medium-value flats.
He estimated that about 54,000 property transactions would benefit from the proposal each year.
Estate agents say the move, which will lower initial costs when people buy flats, will improve the buying sentiment.
But the reduction is relatively small compared with the value of apartments and they do not expect the housing market to be significantly boosted.
Under the adjustments, the limit below which only the nominal fee of $100 is charged will be raised from $500,000 to $750,000.
