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

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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