Hong Kong Pulls Brakes On Hot Property
Hong Kong has again implements cooling measures for its red hot real estate market.
In what has been a number of rounds already, the latest measure is doubling tax on properties which cost in exceed of THB7.7 million.
On top of this stamp duty will also escalate to 8.5%.
Mainland buyers have spurred the trend which has even reached into selling not only commercial and residential property, but as the South China Morning Post reported – car parking spaces.
Property prices in the SAR (Hong Kong) continue to be amongst the most expensive in the world.