The Transport and Housing Bureau intends to suspend the "vacancy tax" Shi Yongqing points out that the policy is a political posture, and the impact is unlikely

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Written by: Zhang Jiamin

2020-10-19 08:58

Last update date: 2020-10-19 08:58

Chief Executive Carrie Lam Cheng Yuet-ngor introduced in 2018 to impose an additional rate on first-hand inventory units, the "vacancy tax".

However, the Transport and Housing Bureau said earlier that in light of the economic situation, it is considering not promoting the "vacancy tax" for the time being.

Shi Yongqing, the founder of the real estate agency group, stated on the Hong Kong and Taiwan program "Millennium" that the "vacancy tax" itself does not help the property market much and is a "political posture."

He believes that the government's suspension of measures is to stabilize Hong Kong's property prices and believes that the impact will not be significant.

Yao Zhengxi, a local research agency, said that the government has changed the overall direction of its housing policy since the end of last year and withdrew measures to suppress property prices. He also pointed out that according to their past investigations, the suspension of the policy is expected to reduce taxes by 2.1 billion yuan.

The government pointed out that in light of the economic situation, it is considering not promoting the vacancy tax for the time being.

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Shi Yongqing: The measures themselves are not effective and stop pushing will not have a big impact

Shi Yongqing, the founder of the real estate agency group, said that the introduction of the "vacancy tax" is not very helpful to the property market, because most of the properties sold before the occupation of 70% to 80%, and Hong Kong is more active in selling properties, so the introduction of the vacancy tax is "political Posture is more than actual benefits."

He also pointed out that the government's suspension of the vacancy tax is to stabilize the property market, and that because the measures themselves are not effective, the suspension will also not have a major impact on the market.

Yao Zhengxi, a local research agency, stated on the same program that the government did not decide to stop the policy last week. He believed that the government had changed the direction of the housing policy at the end of last year, including the withdrawal of measures to suppress property prices.

He pointed out that according to an earlier investigation by a local research agency, it is estimated that the suspension of the measures will reduce Hong Kong's tax revenue by about 2.1 billion yuan.

He agreed that the government chose to suspend the amendment to stabilize the property market.

Shi Yongqing pointed out that the vacancy tax is a "political posture more than actual benefits."

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