6-month resale of property will levy 15% stamp duty

(Rosalyn) in order to suppress speculation in the property market, the Hong Kong Government of China announced urgent measures to announce the imposition of additional stamp duty on the basis of the existing stamp duty 4.25%. At the same time, reduce mortgage ratios, and further tighten mortgage loans to curb speculative activities of short-term speculators in the property market.　　The relevant measures have entered into force since November 21. To combat short-term speculation, the Hong Kong Special Administrative Region (HKSAR), starting from November 21, will resell the purchased property within 6 months, in addition to paying 4.25% of the stamp duty, the buyer and seller will be required to pay an additional stamp duty of 15% for the transaction, 6-12 months for resale, and a special stamp duty rate of 10%　　The tax rate is 5%. It is reported that at present in the United States and Japan, such as the implementation of quantitative easing policy, Hong Kong, China's property market speculation hot, has become abnormal, risk increased. Property prices in Hong Kong have risen abnormally in the short term, up more than 20% in the 2008 years before the financial tsunami. The figures show that the increase was 10% in the first 9 months of this year. In addition, short-term speculation within 12 months has increased by 114% per cent this year, of which 84% are housing prices below HK $3 million. "The red-hot speculation in the past has spread to ordinary homes. The financial Secretary of the Hong Kong Special Administrative Region, Mr John Tsang.