Buyers queuing for Sun Hung Kai Properties’ flats at Cullinan West III in Nam Cheong on 26 September 2019. Photo: Xiaomei Chen

Hong Kong’s October stamp duty income jumps as non-resident property buyers pile in to pick up bargains amid oversupply

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Buyers stamp duty, a 15 per cent surcharge on the price of a property that must be borne by non-permanent Hong Kong residents and corporate buyers, soared 2.8 times last month to HK$880 million (US$112.4 million)
The number of transactions jumped 1.8 times to 296, according to data by the Inland Revenue Department

Topic | Hong Kong property

Lam Ka-sing

Published: 11:40am, 12 Nov, 2019

Updated: 6:32pm, 12 Nov, 2019

Buyers queuing for Sun Hung Kai Properties’ flats at Cullinan West III in Nam Cheong on 26 September 2019. Photo: Xiaomei Chen

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Lam Ka-sing

Lam Ka-sing is a business reporter who covers property affairs and results. He joined the Post in 2017 and has a degree in international journalism from Hong Kong Baptist University.