Real estate market
Written by: Cai Weinan
2020-11-25 12:14
Last update date: 2020-11-25 12:28
Chief Executive Lam Cheng Yuet-ngor announced today (25th) the fourth "policy address" during his term and announced the abolition of double ad valorem stamp duty on non-residential properties, which will take effect tomorrow (26th).
Chief Executive Carrie Lam Cheng Yuet-ngor pointed out that due to the economic downturn and the uncertainty of the epidemic, the selling price and demand of non-residential properties have dropped significantly in the past period of time. He believes that it is appropriate to revoke the double ad valorem stamp duty on non-residential properties.
In order to benefit owners in need immediately, the Executive Council has passed the amendment to the Stamp Duty Ordinance this morning to exercise the statutory power to revoke the double ad valorem stamp duty on non-residential properties with a public income protection order, which will take effect tomorrow (November 26) .
No plan to "reduce spicy" for residential
The Government will continue to monitor the market situation of non-residential properties and will take appropriate measures again when necessary to ensure the stable development of the market.
The Government also emphasized that under the current tight housing supply, residential property prices are still at a level that is unaffordable for the general public. The Government has no plans to adjust various stamp duty arrangements for residential properties.
Chief Executive Carrie Lam Cheng Yuet-ngor pointed out that residential property prices are still at a level that is unaffordable for ordinary citizens, and the government has no plans to adjust various stamp duty arrangements for residential properties.
Rumor has it that the government intends to withdraw the “spicy tax” of industrial and commercial stores
The government's 20 billion purchase of industrial and commercial stores invites owners to submit proposals for sale for the first time, due next month 27
[HKMA Reduces Spicy] Scholars: The decline in industrial and commercial store prices is difficult to stop investors approving it is too late to rescue the market
Industrial and Commercial Store Market Policy Address Policy Address 2020
