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
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