Property News · November 7, 2016

Hong Kong developers’ shares plunge after government’s surprise cooling measure


Hong Kong developers’ share prices plunged on Monday after the government announced the highest stamp duty yet on property transactions in the city.
Analysts said the new tightening came as a big surprise and they expect home prices to face severe cooling pressure.
Cheung Kong Property Holdings slumped 8.8 per cent, Sun Hung Kai Properties fell 9.8 per cent, New World Development dropped 9.3 per cent while Henderson Land declined by 5.9 per cent at the close of trading on Monday. The city…

Source : South China Morning Post
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