It’s been said there are only two sure things in life: death and taxes. Since November 2010, the Hong Kong government has implemented roughly half a dozen new or amended property stamp duties, and on top of that the Hong Kong Monetary Authority raised the loan-to-value (LTV) ratios three times. Anyone purchasing a second property is required to come up with 60 per cent of its sticker price (based on bank valuation). And then even permanent residents can expect to be slapped with up to an…
Source : South China Morning Post
Read more…Hong Kong’s stamp duties have worked to stabilise the housing market, shielding us from speculative excess
