Property News · July 17, 2018

Hong Kong’s proposed vacancy tax could have this one unintended consequence on home builders


The Hong Kong government’s plan to impose a vacancy tax on property developers who hoard empty, unsold flats could have the unintended consequence of spurring home builders to reclassify some units for the rental market.
Sun Hung Kai Properties (SHKP), which has the biggest hoard of completed flats, said on Sunday it would retain a block of 140 units at its soon-to-be completed project, Victoria Harbour, in North Point for leasing, instead of sale. The announcement reflects a U-turn in…

Source : South China Morning Post
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