As many as 900 buyers registered to bid for 152 apartment units put on the market by Cheung Kong Property Holding. The developer sold 142 units of the Harbour Glory project within four hours. An estimated 30 per cent of the buyers showed up in groups, buying multiple units but under different names to work around a government stamp duty.Photo: Felix Wong

Wily buyers work around stamp duty rule by splitting purchases under different names

No sooner had the government closed a stamp duty loophole than buyers found a way to work around the rule.

Topic |   Hong Kong stamp duty

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As many as 900 buyers registered to bid for 152 apartment units put on the market by Cheung Kong Property Holding. The developer sold 142 units of the Harbour Glory project within four hours. An estimated 30 per cent of the buyers showed up in groups, buying multiple units but under different names to work around a government stamp duty.Photo: Felix Wong
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Sandy Li

Sandy Li

Sandy Li is the property editor. She covers property market which focus in listed property firms and government policy. During her career she has won several journalism prizes, including the Citi Journalistic Excellence Award in 2011. She was first runner-up for the same award in 2010.