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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.

 

There's never a dull moment for flat buyers

When Carmen Lee and her boyfriend bought a home in Tin Shui Wai in March 1997, she never imagined the move would turn into a nightmare.

They bought a 700-square-foot unit for about HK$3.5 million at Cheung Kong's Maywood Court - the fifth phase of Kingswood Villas.