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

  • 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

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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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The ongoing protests in Hong Kong have dampened property developers’ participation in land tenders. Photo: AP Photo

Kai Tak runway parcel tender receives muted response even after valuation is cut by 15 per cent

  • Only Sun Hung Kai Properties, CK Asset and two consortiums led by Sino Land and China Overseas Land & Investment submit bids for sea-facing parcel on the runway of Hong Kong’s former airport
  • Knight Frank cuts valuation for the plot by 15 per cent to HK$19.8 billion
Topic |   Hong Kong property

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The ongoing protests in Hong Kong have dampened property developers’ participation in land tenders. Photo: AP Photo
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