Real Estate partner Wayne Cheng is quoted in Hong Kong Economic Times on the latest measure on stamp duty announced in the Hong Kong Budget speech yesterday, which proposes to extend the HK$100 flat-rate stamp duty to property transactions valued up to HK$4 million, an increase from the previous threshold of HK$3 million.
“The adjustments to the stamp duty rates for lower bands are expected to encourage more property transactions for values below HK$4 million, particularly benefiting buyers of small to medium-sized flats and parking spaces. While this may not have the same immediate impact on market sentiment as the withdrawal of all stamp duty measures last February, it represents a proactive step towards facilitating access to the property market and supporting homeownership,” he says.
Read the full article here (Chinese only).
The commentaries also appeared in On.cc, Money18 and Hong Kong Commercial Daily.
