"Bloomberg" reported that Ye Liu Shuyi, the convener of the Executive Council, said that it is considering exempting double stamp duty (DSD) for mainland home buyers.
After the news came out, Hong Kong property stocks surged.
Later, according to a noon report by "Business Taiwan", she clarified that the proposal is only the opinion of the New Democratic Party and will be put forward during the consultation period of the "Policy Address".
The report quoted Ye Liu Shuyi as saying that the New Democracy Party has been receiving requests from professionals from the mainland who come to Hong Kong, hoping that they can be exempted from paying double stamp duty like Hong Kong residents before they obtain permanent residency. The sense of belonging in Hong Kong is also a fairer approach.
When asked if the proposal would push up property prices, Ye Liu Shuyi believed that the current property market is relatively weak, and the relevant proposals will help retain talents.
SHKP (0016) jumped more than 2%, New World Development (0017) rose nearly 4%, Cheung Kong (1113) rose nearly 2%; Henderson Land (0012) rose more than 3%.
In addition, Midland (1200) rose 12.86% to 0.79 yuan.
In addition, the government announced yesterday (8th) that the quarantine period for arrivals in Hong Kong will be shortened, from 7-day hotel quarantine to "3+4", that is, 3-day hotel quarantine and 4-day home surveillance.
Ye Liu Shuyi pointed out that it is "very desirable" for Hong Kong to achieve zero isolation by November.
Ye Liu Shuyi, convener of the Executive Council.
(Photo by Lu Xiangming)
At present, mainlanders coming to Hong Kong to buy properties are required to pay 30% stamp duty, including 15% Buyer Stamp Duty (BSD) and Ad Valorem Stamp Duty (AVD) (formerly known as Double Stamp Duty, DSD).
Since October 27, 2012, general non-Hong Kong permanent residents and all companies need to pay a 15% buyer's stamp duty (BSD) when purchasing Hong Kong residential properties. Pay double stamp duty (DSD), while the ad valorem stamp duty rate of the second property is increased to a flat 15% (AVD), and mainland tourists need to pay 30% stamp duty on the property price in disguise.
In the first half of the year, the three major residential hot tax revenue was 3.66 billion, down 32% from the same period last year
