In a falling property market, the stamp duty will foster the growth of negative equity cases, as many owners are discouraged from selling their homes by the extra transaction cost, says Wong. Photo: Getty Images In a falling property market, the stamp duty will foster the growth of negative equity cases, as many owners are discouraged from selling their homes by the extra transaction cost, says Wong. Photo: Getty Images
In a falling property market, the stamp duty will foster the growth of negative equity cases, as many owners are discouraged from selling their homes by the extra transaction cost, says Wong. Photo: Getty Images
Martin Wong
Opinion

Opinion

Concrete Analysis by Martin Wong

Why scrapping special stamp duty would help alleviate Hong Kong’s housing shortage problem

  • Removing the duty imposed 10 years ago would help increase market supply and drive market prices back to equilibrium, writes Martin Wong of Knight Frank
  • The tax has ‘failed to serve its purpose of dampening investor demand and helping first-time buyers’

Martin Wong
Martin Wong

Updated: 6:51pm, 16 Jun, 2020

Why you can trust SCMP
In a falling property market, the stamp duty will foster the growth of negative equity cases, as many owners are discouraged from selling their homes by the extra transaction cost, says Wong. Photo: Getty Images In a falling property market, the stamp duty will foster the growth of negative equity cases, as many owners are discouraged from selling their homes by the extra transaction cost, says Wong. Photo: Getty Images
In a falling property market, the stamp duty will foster the growth of negative equity cases, as many owners are discouraged from selling their homes by the extra transaction cost, says Wong. Photo: Getty Images
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Martin Wong

Martin Wong

Martin Wong is associate director, research & consultancy of Greater China at Knight Frank