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Hong Kong stamp duty

To rein in the city's runaway housing prices, Hong Kong's Financial Secretary John Tsang Chun-wah announced an additional 15 per cent stamp duty on non-permanent-resident and corporate buyers starting from October 27, 2012. The move prompted speculation over the effectiveness of taxation on the real estate market and criticisms that Hong Kong was turning away from its roots as a free market economy in favour of a more protectionist market environment.

 

Home prices in "world class cities" always rose in the long run.

Only way is up if you take the long-term view

Two weeks after the government announced new stamp duties in a bid to hose down overheated home prices, the talk of the town is still where prices are headed.