Hong Kong’s Planned Property Tax Cut May Stabilize Ailing Market
- Chief Executive Lee may announce move in first policy address
- Stamp duty cut for foreign buyers isn’t likely to spur prices
Apartment blocks in the Kwun Tong district in Hong Kong.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Hong Kong leader John Lee’s potential plan to ease property taxes for non-residents is likely to stabilize the housing market without stimulating prices that are being stunted by rising interest rates.
The city’s chief executive may relax the stamp duty for non-resident property buyers as part of measures to attract foreign talent to be announced in his maiden policy address later this month, Bloomberg News reported on Thursday.