Hong Kong’s developers are racing to exploit a loophole in the vacancy tax announced on June 29 for increasing housing supply, before the city’s Legislative Council mends the gap when it gets around to passing the bill for enacting the levy.
The tax, announced by Chief Executive Carrie Lam Cheng Yuet-ngor, would make completed homes that are left vacant for more than six months after receiving the occupation permit liable to a levy equivalent to about 5 per cent of the property…
Source : South China Morning Post
Read more…Developers race to exploit a loophole in Hong Kong’s vacancy tax before a patch is made















