An expected interest rate rise in June is likely to force more developers and homeowners, alike, to dig in and not sell their new and second-hand flats, adding more pressure on the Hong Kong government to introduce a levy on unoccupied properties to increase supply, according to leading market watchers.
Hong Kong Financial Secretary Paul Chan Mo-po last month unveiled the government is considering imposing the tax, in a bid to cool the city’s red-hot property prices and make more…
Source : South China Morning Post
Read more…Commentators agree, empty flat tax is needed to kick-start selling















