A show flat for Mont Vert at Fung Yuen in Tai Po. Photo: Felix Wong

Developers evading vacancy tax to face fines of HK$100,000 or one year in prison

  • The tax aims to free up properties and pry open supply bottlenecks in Hong Kong’s overheated property market
Topic |   Hong Kong housing

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A show flat for Mont Vert at Fung Yuen in Tai Po. Photo: Felix Wong
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Hong Kong is the world’s least affordable property market. Photo: Reuters

Vacancy tax on properties just a political gesture that will not address Hong Kong’s housing supply woes, experts say

  • Centaline founder says developers can still resort to tactics such as allocating newly built homes to staff members to delay market access
  • Lawmaker Andrew Wan believes proposed measure should be extended to foreign residents and companies
Topic |   Hong Kong housing

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Hong Kong is the world’s least affordable property market. Photo: Reuters
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