Hong Kong may consider further curbs on home purchases by foreigners

(Sept 4): Hong Kong could consider imposing further restrictions on home purchases by non-locals, the Hong Kong Economic Journal reported.

Responding to concerns foreigners could avoid a 30% stamp duty by using a trust to buy property, Permanent Secretary for Transport and Housing Stanley Ying said transactions by non-locals and companies accounted for only 1.2% of total purchases in the first half.

“Government will keep on monitoring the situation, and will roll out measures when necessary without notice,” the journal cited Ying as saying.

---

Related Stories

• India overtakes Hong Kong as world's fourth-largest stock market
• Looking beyond China's year of 'dashed hopes'
• With no more annual Christmas gift of asset price appreciation, try greenifying real estate

---