Property News · November 18, 2021

Hong Kong government to net record US$6.4 billion in land premium amid rising demand and prices of homes


The Hong Kong government is set receive a record HK$50 billion (US$6.4 billion) in land premium this year, as developers rush to build flats to capitalise on a housing shortage that is fuelling prices and demand.Land premium is the fee that developers pay to the government when a modification or change in land use results in a higher land value. The government had already generated HK$40 billion in land premium in the first 10 months of the year, Financial Secretary Paul Chan Mo-po said this…

Source : South China Morning Post
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