{"id":98305,"date":"2018-09-21T19:00:15","date_gmt":"2018-09-21T12:00:15","guid":{"rendered":"http:\/\/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\/"},"modified":"2018-09-21T20:03:36","modified_gmt":"2018-09-21T13:03:36","slug":"looming-vacancy-tax-is-prying-long-held-flats-from-hong-kong-developers-who-kept-them-locked-away-for-future-appreciation-riches","status":"publish","type":"post","link":"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\/","title":{"rendered":"Looming vacancy tax is prying long-held flats from Hong Kong developers who kept them locked away for future appreciation riches"},"content":{"rendered":"


\nHong Kong\u2019s tax on empty flats appears to be working.
\nThe 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 developers rightly assumed the prices would shoot up through the stratosphere if the flats were held and later sold as new.
\nBut in just over two months, facing the threat of a humongous tax bill for hoarding that is…
\n
\nSource : South China Morning Post
\nRead more…Looming vacancy tax is prying long-held flats from Hong Kong developers who kept them locked away for future appreciation riches<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong\u2019s tax on empty flats appears to be working. The city\u2019s cash-rich developers had...<\/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-98305","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-pzz","jetpack-related-posts":[{"id":106592,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/completion-of-new-flats-in-hong-kong-plummets-to-four-year-low-as-looming-vacancy-tax-spooks-developers\/","url_meta":{"origin":98305,"position":0},"title":"Completion of new flats in Hong Kong plummets to four-year low as looming vacancy tax spooks developers","date":"April 26, 2019","format":false,"excerpt":"\r The number of new flats built to completion in Hong Kong plunged by 88 per cent to just 1,000 in the first three months of the year as developers fearful of the government\u2019s planned vacancy tax held back.It is the lowest number since the first quarter of 2015, and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-rush-to-sell-empty-flats-ahead-of-new-vacancy-tax\/","url_meta":{"origin":98305,"position":1},"title":"Hong Kong developers rush to sell empty flats ahead of new vacancy tax","date":"June 20, 2018","format":false,"excerpt":"\r Property developers are rushing to offload vacant flats before the government unveils details of a new tax on empty units this month. Having stood unoccupied for the last five years, New World Development said it will release the last 38 homes in phase one of its Park Villa project\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87859,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-speed-up-sale-of-empty-flats-as-plans-for-vacancy-tax-gathers-steam\/","url_meta":{"origin":98305,"position":2},"title":"Hong Kong developers speed up sale of empty flats as plans for vacancy tax gathers steam","date":"May 12, 2018","format":false,"excerpt":"\r Last week, property agent Alvin Tai brought three clients to view four units on the 85th floor of the Cullinan luxury development near Kowloon MTR station that has been left unsold by the developer Sun Hung Kai Properties for more than 10 years, in the hope of closing deals\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":98305,"position":3},"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":93665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-builders-raise-prices-confident-that-buyers-will-snap-up-flats-unlocked-by-vacancy-tax\/","url_meta":{"origin":98305,"position":4},"title":"Hong Kong builders raise prices, confident that buyers will snap up flats unlocked by vacancy tax","date":"July 12, 2018","format":false,"excerpt":"\r Hong Kong\u2019s home prices are showing no signs of letting up, as developers continue to raise their offer price with each successive sales launch, confident that there are enough eager property buyers to snap up any additional supply that goes on the market. For proof, look no further than\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":98305,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98305"}],"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=98305"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98305\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}