The sharp increase in taxes on real estate transactions in Hong Kong led to a drop in sales by 39%. This rate has been fixed at a minimum level for the last seventeen years, reports Property-report.com , with reference to Hong Kong Land Cadastre. It is expected that the decline will continue in 2014. According Deustche Bank, over the next twelve months, the volume of sales decreased by 50%. Despite additional market cooling measures taken by the government in 2013, including a doubling of the stamp duty on housing transactions, the prices increased by another 3% and remained among the highest in the world. For the first time the government has tried to slow the rise in prices in 2009, but the desired effect is not followed. HomesOverseas.ru
The volume of real estate market in Hong Kong continues to decrease
14.01.2014
Homesoverseas.ru editorial office
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