Looming vacancy tax is prying long-held flats from Hong Kong developers who kept them locked away for future appreciation riches
Potential buyers queue up for SHKP's residential project St Martin at the International Commerce Centre (ICC) in West Kowloon on July 14, 2018. Photo: Dickson Lee
Looming vacancy tax is prying long-held flats from Hong Kong developers who kept them locked away for future appreciation riches
Developers have sold 1,677 empty flats – some luxury ones held empty for more than a decade – in a scramble to avoid paying a big penalty. That is 12 per cent of all flats sold in a 10-week period
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Hong Kong property
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Potential buyers queue up for SHKP's residential project St Martin at the International Commerce Centre (ICC) in West Kowloon on July 14, 2018. Photo: Dickson Lee
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