Property News · November 12, 2019

Hong Kong’s October stamp duty income jumps as non-resident property buyers pile in to pick up bargains amid oversupply


Individual and corporate homebuyers piled into Hong Kong property last month to pick up bargains as city developers offered the most number of units for sale in several months after a surprise relaxation of mortgage entitlements for first-home buyers.Buyers’ stamp duty, a 15 per cent surcharge on the price of a property that must be borne by non-permanent Hong Kong residents and corporate buyers, soared 2.8 times last month to HK$880 million (US$112.4 million), while the number of transactions…

Source : South China Morning Post
Read more…Hong Kong’s October stamp duty income jumps as non-resident property buyers pile in to pick up bargains amid oversupply