Property News · September 12, 2017

Data shows extra property stamp duty no brake on soaring prices, agents say


The number of transactions requiring home buyers to pay an extra stamp duty surged to a record high in August, suggesting the measure intended to cool the property market has been losing effectiveness, according to property agents.
The Inland Revenue Department said Monday that 3,411 residential transactions were required to pay an extra stamp duty during the month, exceeding the previous peak of 3,298 deals in March.
Income from buyers’ stamp duty and double stamp duty dropped 9.3 per…

Source : South China Morning Post
Read more…Data shows extra property stamp duty no brake on soaring prices, agents say

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