Aerial view of residential buildings in the Yau Tong area, east of the Kowloon Peninsula in Hong Kong, on 29 February 2020. Photo: Sun Yeung Aerial view of residential buildings in the Yau Tong area, east of the Kowloon Peninsula in Hong Kong, on 29 February 2020. Photo: Sun Yeung
Aerial view of residential buildings in the Yau Tong area, east of the Kowloon Peninsula in Hong Kong, on 29 February 2020. Photo: Sun Yeung

Hong Kong’s deferred vacancy tax carries a US$279 million price tag, adding to the financial woes of a recession-busting budget deficit

  • The foregone receipt was calculated based on a 5-per cent levy on 3,945 unsold homes valued at HK$43.2 billion that were left unsold for more than a year, according to Liber Research Community
  • The shelving of the vacancy tax removes the financial deterrence on hoarding, which would eventually translate to higher home prices for consumers, Liber said

Topic |   Hong Kong property
Aerial view of residential buildings in the Yau Tong area, east of the Kowloon Peninsula in Hong Kong, on 29 February 2020. Photo: Sun Yeung Aerial view of residential buildings in the Yau Tong area, east of the Kowloon Peninsula in Hong Kong, on 29 February 2020. Photo: Sun Yeung
Aerial view of residential buildings in the Yau Tong area, east of the Kowloon Peninsula in Hong Kong, on 29 February 2020. Photo: Sun Yeung
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