{"id":112000,"date":"2019-10-30T07:00:21","date_gmt":"2019-10-30T00:00:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/billionaire-cecil-chao-experiments-with-co-living-to-avoid-hong-kongs-looming-vacancy-tax\/"},"modified":"2019-10-30T08:15:20","modified_gmt":"2019-10-30T01:15:20","slug":"billionaire-cecil-chao-experiments-with-co-living-to-avoid-hong-kongs-looming-vacancy-tax","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/billionaire-cecil-chao-experiments-with-co-living-to-avoid-hong-kongs-looming-vacancy-tax\/","title":{"rendered":"Billionaire Cecil Chao experiments with co-living to avoid Hong Kong\u2019s looming vacancy tax"},"content":{"rendered":"


\nBillionaire Cecil Chao Sze-tsung\u2019s Cheuk Nang (Holdings) is offering seven flats at its One Kowloon Peak luxury residential project as co-living units in a bid to avoid vacancy tax amid downbeat sentiment.\u201cThe penalty is quite high if you do not lease them. If it [vacancy tax] is really implemented, the impact on Hong Kong\u2019s developers will be very big,\u201d said Chao, 83, chairman of Hong Kong-listed Cheuk Nang in an exclusive interview with the Post. \u201cAs a developer, we definitely oppose it,\u2026
\n
\nSource : South China Morning Post
\nRead more…Billionaire Cecil Chao experiments with co-living to avoid Hong Kong\u2019s looming vacancy tax<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Billionaire Cecil Chao Sze-tsung\u2019s Cheuk Nang (Holdings) is offering seven flats at its One Kowloon...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-112000","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-t8s","jetpack-related-posts":[{"id":110833,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pressure-from-beijing-looming-vacancy-tax-will-force-hong-kongs-developers-into-faster-and-cheaper-project-launches-say-analysts\/","url_meta":{"origin":112000,"position":0},"title":"Pressure from Beijing, looming vacancy tax will force Hong Kong\u2019s developers into faster and cheaper project launches, say analysts","date":"September 17, 2019","format":false,"excerpt":"\r Hong Kong\u2019s developers are coming under mounting pressure to slash their prices and offload new projects as quickly as possible, according to analysts.The pressure is coming from two sources: a looming tax on unsold flats, and a series of Chinese state-media commentaries last week urging the Hong Kong government\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98305,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/looming-vacancy-tax-is-prying-long-held-flats-from-hong-kong-developers-who-kept-them-locked-away-for-future-appreciation-riches\/","url_meta":{"origin":112000,"position":1},"title":"Looming vacancy tax is prying long-held flats from Hong Kong developers who kept them locked away for future appreciation riches","date":"September 21, 2018","format":false,"excerpt":"\r Hong Kong\u2019s tax on empty flats appears to be working. The city\u2019s cash-rich developers had hoarded more than 9,000 new flats as of June 29, according to government data, when the vacancy tax was first proposed. Some of the flats had been held for more than a decade. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109103,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-of-some-of-hong-kongs-smallest-abodes-may-have-sold-at-a-loss-just-to-clear-the-flats-off-its-books-to-avoid-vacancy-tax\/","url_meta":{"origin":112000,"position":2},"title":"Developer of some of Hong Kong\u2019s smallest abodes may have sold at a loss just to clear the flats off its books to avoid vacancy tax","date":"July 17, 2019","format":false,"excerpt":"\r Mainland property developers that arrived late to Hong Kong are discovering not everything always ends well when it comes to risk taking in the world\u2019s least affordable market for home ownership.Chinese developer Jiayuan International Group appears on track for a slim profit or even a loss in its first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95395,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-race-to-exploit-a-loophole-in-hong-kongs-vacancy-tax-before-a-patch-is-made\/","url_meta":{"origin":112000,"position":3},"title":"Developers race to exploit a loophole in Hong Kong\u2019s vacancy tax before a patch is made","date":"August 4, 2018","format":false,"excerpt":"\r Hong Kong\u2019s developers are racing to exploit a loophole in the vacancy tax announced on June 29 for increasing housing supply, before the city\u2019s Legislative Council mends the gap when it gets around to passing the bill for enacting the levy. The tax, announced by Chief Executive Carrie Lam\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106135,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vacancy-tax-is-a-short-term-solution-to-hong-kongs-long-term-housing-shortage-crisis\/","url_meta":{"origin":112000,"position":4},"title":"Vacancy tax is a short-term solution to Hong Kong\u2019s long-term housing shortage crisis","date":"April 16, 2019","format":false,"excerpt":"\r The Hong Kong government plans to introduce a vacancy tax on empty new flats to pry open supply bottlenecks by imposing fines on developers for hoarding new homes. Under the proposed legislation, a tax equivalent to twice the estimated annual rental value will be levied on flats that remain\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105667,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-impending-vacancy-tax-unlikely-to-derail-new-found-housing-price-momentum\/","url_meta":{"origin":112000,"position":5},"title":"Hong Kong\u2019s impending vacancy tax unlikely to derail new-found housing price momentum","date":"April 2, 2019","format":false,"excerpt":"\r The recent stock rally and US Federal Reserve\u2019s dovish attitude on interest rates have muted the threat of the proposed vacancy tax in a bid to cool home prices by raising supply, say market watchers.The introduction of vacancy tax came a step closer after the Legislative Council\u2019s housing panel\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/112000"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=112000"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/112000\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=112000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=112000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=112000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}