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PR Newswire
08-01-2014, 09:31 AM
The bad news will continue for the rest of this year, at least, IMO...
HK property sales slump to 17-year low as stamp duty bites
HONG KONG — The number of properties sold in Hong Kong plunged by more than a third last year to a 17-year low as a surge in the stamp duty, designed to burst a housing bubble, turned off buyers in one of the world’s most expensive cities.
Despite steep discounts offered by property developers, the number of sale and purchase agreements concluded last year amounted to 70,503, down 39 per cent from 2012, said the Hong Kong Land Registry.
The value of deals dropped 30 per cent from a year ago to HK$456 billion (S$74.8 billion), the data showed.
...
http://www.todayonline.com/business/hk-p...duty-bites
HK property sales slump to 17-year low as stamp duty bites
HONG KONG — The number of properties sold in Hong Kong plunged by more than a third last year to a 17-year low as a surge in the stamp duty, designed to burst a housing bubble, turned off buyers in one of the world’s most expensive cities.
Despite steep discounts offered by property developers, the number of sale and purchase agreements concluded last year amounted to 70,503, down 39 per cent from 2012, said the Hong Kong Land Registry.
The value of deals dropped 30 per cent from a year ago to HK$456 billion (S$74.8 billion), the data showed.
...
http://www.todayonline.com/business/hk-p...duty-bites
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
