Property News · April 26, 2019

Completion of new flats in Hong Kong plummets to four-year low as looming vacancy tax spooks developers


The number of new flats built to completion in Hong Kong plunged by 88 per cent to just 1,000 in the first three months of the year as developers fearful of the government’s planned vacancy tax held back.It is the lowest number since the first quarter of 2015, and represents an enormous fall from 8,300 in the October to December period, according to figures released by the Transport and Housing Bureau on Friday.“The vacancy tax may be one of the reasons for the fall in completion of new flats…

Source : South China Morning Post
Read more…Completion of new flats in Hong Kong plummets to four-year low as looming vacancy tax spooks developers