Property News · June 29, 2018

Property developers blast ‘unfair’ vacancy tax, call for longer grace period for flats that don’t sell


An association that represents the city’s major developers blasted the vacancy tax introduced Friday as “unreasonable” and “unfair”, urging the government to grant a grace period for flats that have been put on the market but fail to find buyers immediately.
“The government should allow developers more time to sell stocks of flats, especially large flats that could not be sold in a short period of time,” said Stewart Leung Chi-kin, chairman of the Real…

Source : South China Morning Post
Read more…Property developers blast ‘unfair’ vacancy tax, call for longer grace period for flats that don’t sell

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