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

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