To curb the madness of a 50% rise in house prices since January 2009, the Hong Kong Special Administrative Region's financial Secretary, Mr John Tsang, announced an increase in stamp duty on November 19. Sales of second-hand housing over the weekend fell by 83% compared with last week, according to data from a local real estate company. After implementing the new measures, buyers who buy property within 6 months will pay 15% of the stamp duty, and the down payment for home prices of more than 12 million Hong Kong dollars will increase to 50%, and the down payment for house prices at 8 million to HK $12 million will increase to 40%. "This measure is likely to have the biggest and most lasting impact on property prices," said HSBC economist K-W OK, "Hong Kong has jumped onto the Asian Central bank's float and built up its own defense system to counter capital floods from the US." "Source: Bloomberg translation: Liu
The content source of this page is from Internet, which doesn't represent Alibaba Cloud's opinion;
products and services mentioned on that page don't have any relationship with Alibaba Cloud. If the
content of the page makes you feel confusing, please write us an email, we will handle the problem
within 5 days after receiving your email.
If you find any instances of plagiarism from the community, please send an email to:
info-contact@alibabacloud.com
and provide relevant evidence. A staff member will contact you within 5 working days.
