Property News · June 16, 2020

Why scrapping special stamp duty would help alleviate Hong Kong’s housing shortage problem


In November 2010, the Hong Kong government imposed a special stamp duty (SSD) on individuals and companies that acquire a residential property in Hong Kong and resell it within 36 months. The sellers need to pay an SSD equivalent to 20 per cent of the transaction price if they resell their home within six months of the purchase date. The SSD is reduced to 10 per cent if the property is sold within 12 to 36 months of the purchase date.In the decade before the introduction of SSD, home prices…

Source : South China Morning Post
Read more…Why scrapping special stamp duty would help alleviate Hong Kong’s housing shortage problem

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