{"id":34600,"date":"2016-11-16T17:52:45","date_gmt":"2016-11-16T10:52:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-new-stamp-duty-claims-its-biggest-payer-yet\/"},"modified":"2016-11-16T17:53:46","modified_gmt":"2016-11-16T10:53:46","slug":"hong-kongs-new-stamp-duty-claims-its-biggest-payer-yet","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-new-stamp-duty-claims-its-biggest-payer-yet\/","title":{"rendered":"Hong Kong\u2019s new stamp duty claims its biggest payer yet"},"content":{"rendered":"


\nNot the most expensive purchase though
\nxtock\/Shutterstock.com
\nA home buyer is due to\u00a0fork out millions in stamp duty for a recent purchase, the South China Morning Post reported.
\nThe Inland Revenue Department is set to charge 30 percent in stamp duties or HKD90.54 million (USD11.7 million) on the Nov. 15 sale of a HKD301.8-million (USD39 million) semi-detached house in Happy Valley. The transaction was made via tender to a corporate buyer.
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\nSpanning 4,571 square feet, the property is part of a development by Hang Lung Properties along Blue Pool Road in Wong Nai Chung. The house is three storeys high and holds five en-suite bedrooms, plus a 546-square-foot courtyard and 1,344 sq ft terrace.
\nWhile the property is far less expensive than the apartments sold in the city last week, the buyer is a non-permanent resident, a target of the stamp duty that has been increased to 15 percent earlier this month. The new rate applies to all residential purchases, except for\u00a0first-time home buyers who are permanent residents.
\nThe buyer of the Blue Pool Road unit could also face \u201cbuyer\u2019s levy,\u201d a tax often slapped on purchasers from mainland China, the Post pointed out. Introduced in 2012, the levy currently stands at 15 percent.
\nRead next: Hong Kong\u2019s newest expat neighborhood keeps on getting cooler
\n
\nSource : property-report.com
\nRead more…Hong Kong\u2019s new stamp duty claims its biggest payer yet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Not the most expensive purchase though xtock\/Shutterstock.com A home buyer is due to\u00a0fork out millions...<\/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-34600","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\/p75ss1-904","jetpack-related-posts":[{"id":41724,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/corporate-buyer-to-pay-record-hk324-million-in-stamp-duty-for-luxury-house-on-hong-kongs-peak\/","url_meta":{"origin":34600,"position":0},"title":"Corporate buyer to pay record HK$324 million in stamp duty for luxury house on Hong Kong\u2019s Peak","date":"January 24, 2017","format":false,"excerpt":"\r A corporate buyer is set to pay the highest stamp duty ever on a property in Hong Kong, after forking out HK$1.08 billion for Asia\u2019s most expensive house per square foot. The buyer, named as Giant Victory Holdings in a filing with the Land Registry on Tuesday, is likely\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cheung-kong-offers-a-tax-salve-to-attract-buyers-back-to-hong-kongs-property-market\/","url_meta":{"origin":34600,"position":1},"title":"Cheung Kong offers a tax salve to attract buyers back to Hong Kong\u2019s property market","date":"November 10, 2016","format":false,"excerpt":"\r Cheung Kong Property Holdings has become the first among Hong Kong\u2019s developers to offer a salve to customers, a week after the government doubled the city\u2019s stamp duty to control runaway prices. For a month until December 15, Cheung Kong said it will foot the bill for buyer who\u2019re\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33878,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/asias-most-expensive-apartment-just-sold-in-hong-kong-again\/","url_meta":{"origin":34600,"position":2},"title":"Asia\u2019s most expensive apartment just sold in Hong Kong \u2014 again","date":"November 11, 2016","format":false,"excerpt":"\r What stamp duty? Victoria Peak, Hong Kong. caminoel\/Shutterstock Defying expectations after the increased stamp duty on property purchases, Hong Kong just saw the sale of the most expensive apartment in Asia in terms of cost per square foot. Units 16A and 16B at luxury development Mount Nicholson on The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38079,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/find-out-how-these-billionaires-dodged-hong-kongs-new-property-curbs\/","url_meta":{"origin":34600,"position":3},"title":"Find out how these billionaires dodged Hong Kong\u2019s new property curbs","date":"December 14, 2016","format":false,"excerpt":"\r Twist: Asia\u2019s most expensive apartments had a royal bargain in taxes Victoria Harbour, Hong Kong at night. leungchopan\/Shutterstock While Hong Kong\u2019s new property curbs have had its intended effects, they still seem to have big enough loopholes to drive mansions into. Ultra-high-net-worth individuals in Hong Kong have found technicalities\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117168,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-scrapping-special-stamp-duty-would-help-alleviate-hong-kongs-housing-shortage-problem\/","url_meta":{"origin":34600,"position":4},"title":"Why scrapping special stamp duty would help alleviate Hong Kong\u2019s housing shortage problem","date":"June 16, 2020","format":false,"excerpt":"\r 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122154,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-bno-emigrants-are-more-likely-to-rent-in-the-uk-than-buy-even-as-a-stamp-duty-holiday-ends-and-home-prices-plunge\/","url_meta":{"origin":34600,"position":5},"title":"Hong Kong\u2019s BN(O) emigrants are more likely to rent in the UK than buy, even as a stamp duty holiday ends and home prices plunge","date":"September 22, 2021","format":false,"excerpt":"\r Hong Kong immigrants under the British National (Overseas) scheme are more likely to rent when they first set foot in the United Kingdom than rushing into buying residential property, brokers said.They are also unlikely to rush into purchase commitments ahead of the end of a stamp duty holiday in\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\/34600"}],"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=34600"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/34600\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=34600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=34600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=34600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}