Property News · November 14, 2016

Buyers are walking away from Hong Kong property contracts as stamp duty bites


A growing number of Hong Kong’s property buyers have defaulted on their agreements and forfeited their deposits, as a November 5 increase in stamp duty shows effects.
Four transactions involving seven apartments valued at a combined HK$55.4 million had been cancelled, according to the government’s website.
“More contracts will be cancelled this week as buyers have decided to give up their deposits and walk away from the transactions in view of increasing market uncertainties,…

Source : South China Morning Post
Read more…Buyers are walking away from Hong Kong property contracts as stamp duty bites

You may also like...