Hong Kong Weekend Property Sales Decline on Doubled Stamp Duty

Hong Kong Weekend Property Sales Decline on Doubled Stamp Duty

Jerome Favre/Bloomberg

The Centre Point, below center, stands in Hong Kong. Under the new rules, Hong Kong property deals below HK$2 million will incur stamp duty of 1.5 percent of the purchase price, from HK$100, Hong Kong Financial Secretary John Tsang said at a briefing Feb. 22.