Property News · April 7, 2019

The political message of Hong Kong’s proposed vacancy tax speaks louder than its efficacy in bringing down home prices


Some cities in Australia and Canada have introduced some sort of vacancy tax to motivate owners to put their homes for sale or rental on the market.Vancouver, a city which Hong Kong people are very familiar with, introduced a tax, equivalent to 1 per cent of the assessed value of a property deemed to vacant for more than 180 days. The tax was introduced two years ago when 5 per cent of Vancouver’s homes either stood empty or were underutilised, amid skyrocketing prices and soaring rents…

Source : South China Morning Post
Read more…The political message of Hong Kong’s proposed vacancy tax speaks louder than its efficacy in bringing down home prices

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