{"id":40344,"date":"2017-01-11T17:32:58","date_gmt":"2017-01-11T10:32:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-hong-kong-prices-wont-stop-rising-in-2017\/"},"modified":"2017-01-11T17:42:31","modified_gmt":"2017-01-11T10:42:31","slug":"why-hong-kong-prices-wont-stop-rising-in-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-hong-kong-prices-wont-stop-rising-in-2017\/","title":{"rendered":"Why Hong Kong prices won\u2019t stop rising in 2017"},"content":{"rendered":"


\nNo worries, no (downward) pressure despite stamp duty
\nThe Central-Mid-Levels escalator and walkway system in Hong Kong is the longest outdoor covered escalator system in the world. Pelikh Alexey \/ Shutterstock.com
\nAnalysts do not expect home values in Hong Kong to stop rising this year, new stamp duties notwithstanding.
\nDespite the chill factor of the new levy, the Chinese SAR\u2019s residential market is expected to show resilience, thanks to robust demand and other economic indicators.
\n\u201cI cannot foresee any downward pressure driven by the new stamp duty policy as the M3 is up to a new high exceeding HKD12 million (USD1.5 million),\u201d Vincent Cheung, executive director at Colliers Hong Kong, said. \u201cThe overflow of cheap money after the quantitative easing of various countries and the expectation of further depreciation on the renminbi attracted the Chinese buyers to continue buying properties in Hong Kong and overseas countries.\u201d
\nCashed-up home buyers drove sales in the Hong Kong primary market to their highest level since 1995, data from the Land Registry showed last week. Hong Kong values stand to scale new heights since the stamp duty is largely designed to curtail secondary, speculative demand.
\nMore: Why secondary home sales in Hong Kong are feeling the chill
\nOn 5 November, the Hong Kong government increased the stamp duty to 15 percent for all non-first-time home buyers.
\n\u201cThe impact of the measures on the primary market will likely be mild because developers can offset the extra stamp duty costs with various subsidies,\u201d Alva To, senior managing director of DTZ C&W in Hong Kong, told the South China Morning Post.
\nThe primary market could be inured to headwinds since Hong Kong developers are known to increase asking prices by a considerable margin to offset the cost of stamp duty rebates.
\n\u201cFor the primary home sales, most of the developers would provide allowances for the buyers to settle the new stamp duty, and the developers can easily offer top-up mortgage for the buyers,\u201d Cheung said. \u201cIn addition, the developers would bear the agency costs for the primary home sales.\u201d
\nRead next: Hong Kong\u2019s newest expat neighborhood keeps on getting cooler
\n
\nSource : property-report.com
\nRead more…Why Hong Kong prices won\u2019t stop rising in 2017<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

No worries, no (downward) pressure despite stamp duty The Central-Mid-Levels escalator and walkway system in...<\/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-40344","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-auI","jetpack-related-posts":[{"id":35634,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-real-estate-prices-to-soften-next-year\/","url_meta":{"origin":40344,"position":0},"title":"Hong Kong real estate prices to soften next year","date":"November 24, 2016","format":false,"excerpt":"\r That pesky stamp duty again The future\u2019s a blur. Image: iMoStudio\/Shutterstock Residential prices in Hong Kong are to face downward pressure in 2017 following the governments stamp duty increase for non-first time buyers, says Colliers. The stamp duty hike on 5 November is the second increase in three years.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59348,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-home-price-gain-ease-as-rising-stamp-duty-and-mortgage-lending-tightening\/","url_meta":{"origin":40344,"position":1},"title":"Hong Kong home price gain ease as rising stamp duty and mortgage lending tightening","date":"June 30, 2017","format":false,"excerpt":"\r Hong Kong\u2019s residential prices rose at the slowest monthly pace in four months in May, as the government\u2019s market-cooling stamp duty and the prospect of higher interest rates finally began to show their effects. May\u2019s home prices rose 1.15 per cent, slowing from April\u2019s increase of 2.55 per cent,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-parking-space-transactions-rise-as-investors-capitalise-on-removal-of-double-stamp-duty\/","url_meta":{"origin":40344,"position":2},"title":"Hong Kong parking space transactions rise as investors capitalise on removal of double stamp duty","date":"December 22, 2020","format":false,"excerpt":"\r The sales of parking spaces in Hong Kong jumped about 37 per cent in the first 18 days of this month, as investors encouraged by the removal of the double stamp duty on non-residential property returned to the sector.About 410 parking spaces have changed hands in this period, rising\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157297,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/stamp-duty-change-sparks-sales-surge-in-lower-priced-hong-kong-homes\/","url_meta":{"origin":40344,"position":3},"title":"Stamp-duty change sparks sales surge in lower-priced Hong Kong homes","date":"July 9, 2025","format":false,"excerpt":"\r Hong Kong\u2019s residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures. From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37816,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-stamp-duties-interest-rates-will-not-increase-distressed-property-asset-sales-in-hong-kong-analysts-say\/","url_meta":{"origin":40344,"position":4},"title":"Higher stamp duties, interest rates will not increase \u2018distressed\u2019 property asset sales in Hong Kong, analysts say","date":"December 12, 2016","format":false,"excerpt":"\r The number of distressed property assets in Hong Kong will remain low, despite the recent stamp duty hike and likely interest rate rise later this week, analysts say. Distressed assets \u2013 those that owners are forced to sell at lower-than-market prices for reasons such as bankruptcy or debt \u2013\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119327,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-to-abolish-stamp-duty-on-commercial-property-in-move-designed-to-boost-small-firms-cash-flows\/","url_meta":{"origin":40344,"position":5},"title":"Hong Kong to abolish stamp duty on commercial property in move designed to boost small firms\u2019 cash flows","date":"November 24, 2020","format":false,"excerpt":"\r The Hong Kong government is expected to abolish the stamp duty for commercial property in a move seen as helping small and medium companies shore up their cash flows amid the city\u2019s worst economic crisis on record.According to sources familiar with the matter, the move could be announced soon.\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\/40344"}],"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=40344"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40344\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=40344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=40344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=40344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}