Hong Kongs top official has raised the property stamp duty for the second time in three years to tame soaring real estate prices in the worlds least affordable major city, ahead of an election campaign where housing affordability is likely to be a central issue.Effective November 5, the stamp duty on property transactions for non first-time buyers will be raised to 15 per cent for individuals and corporate buyers.Chan Siu-kam has more.
Hong Kongs top official has raised the property stamp duty for the second time in three years to tame soaring real estate prices in the worlds least affordable major city, ahead of an election campaign where housing affordability is likely to be a central issue.Effective November 5, the stamp duty on property transactions for non first-time buyers will be raised to 15 per cent for individuals and corporate buyers.Chan Siu-kam has more.
