{"id":95395,"date":"2018-08-04T09:01:21","date_gmt":"2018-08-04T02:01:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-race-to-exploit-a-loophole-in-hong-kongs-vacancy-tax-before-a-patch-is-made\/"},"modified":"2018-08-04T10:03:23","modified_gmt":"2018-08-04T03:03:23","slug":"developers-race-to-exploit-a-loophole-in-hong-kongs-vacancy-tax-before-a-patch-is-made","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-race-to-exploit-a-loophole-in-hong-kongs-vacancy-tax-before-a-patch-is-made\/","title":{"rendered":"Developers race to exploit a loophole in Hong Kong\u2019s vacancy tax before a patch is made"},"content":{"rendered":"


\nHong 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.
\nThe tax, announced by Chief Executive Carrie Lam Cheng Yuet-ngor, would make completed homes that are left vacant for more than six months after receiving the occupation permit liable to a levy equivalent to about 5 per cent of the property…
\n
\nSource : South China Morning Post
\nRead more…Developers race to exploit a loophole in Hong Kong\u2019s vacancy tax before a patch is made<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong\u2019s developers are racing to exploit a loophole in the vacancy tax announced on...<\/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-95395","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-oOD","jetpack-related-posts":[{"id":117464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-deferred-vacancy-tax-carries-a-us279-million-price-tag-adding-to-the-financial-woes-of-a-recession-busting-budget-deficit\/","url_meta":{"origin":95395,"position":0},"title":"Hong Kong\u2019s deferred vacancy tax carries a US$279 million price tag, adding to the financial woes of a recession-busting budget deficit","date":"July 1, 2020","format":false,"excerpt":"\r Hong Kong\u2019s government may have lost at least HK$2.16 billion (US$278.68 million) in tax income in the current financial year, after the city\u2019s legislature failed to pass a two-year old law to collect a vacancy tax on developers hoarding completed homes.The foregone receipt was calculated based on a 5-per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"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":95395,"position":1},"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":33390,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-property-stamp-duty-leaves-a-gaping-loophole\/","url_meta":{"origin":95395,"position":2},"title":"Hong Kong\u2019s property stamp duty leaves a gaping loophole","date":"November 7, 2016","format":false,"excerpt":"\r Hong Kong\u2019s government, which more than doubled a stamp duty over the weekend to tame runaway real estate prices, has left a gaping loophole in the tax regime, allowing first-time buyers of multiple properties to get away with not paying the levy. The tax ordinance collects stamp duty based\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112000,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/billionaire-cecil-chao-experiments-with-co-living-to-avoid-hong-kongs-looming-vacancy-tax\/","url_meta":{"origin":95395,"position":3},"title":"Billionaire Cecil Chao experiments with co-living to avoid Hong Kong\u2019s looming vacancy tax","date":"October 30, 2019","format":false,"excerpt":"\r Billionaire 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,\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":95395,"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":92168,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-demand-helps-developers-clear-housing-stock-before-hong-kong-slaps-vacancy-tax-on-hoarders\/","url_meta":{"origin":95395,"position":5},"title":"Home demand helps developers clear housing stock before Hong Kong slaps vacancy tax on hoarders","date":"June 23, 2018","format":false,"excerpt":"\r Hong Kong\u2019s property buyers braved a downpour to snap up more than a hundred unoccupied apartment units, helping developers clear the unsold stock ahead of a government plan to impose a so-called vacancy tax to deter hoarding. As many as 111 units, or 63 per cent of the 176\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\/95395"}],"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=95395"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/95395\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=95395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=95395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=95395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}