Hong Kong property

Cooling Hong Kong’s property bubble

We ask readers in our latest poll about the causes of Hong Kong’s rising property prices.
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Hong Kong: Home to some of the world's most expensive property
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<div style="text-align: left;"> Hong Kong: Home to some of the world's most expensive property </div>

Hong Kong moved to cool its property market last week by introducing new taxes to discourage speculators from the mainland.

John Tsang, the city’s financial secretary, told the media on Friday that the government would increase the stamp duty for sellers who flip their property within three years, as well as imposing an additional 15% stamp duty on all non-resident buyers.

The second measure is aimed at curbing speculative demand from mainland China, while the first is an extension of an existing policy to cool short-term speculation.

The proportion of new properties bought by non-local buyers has gone up from 5.7% in 2008, to...

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