Tag: HK DSD (Double Stamp Duty)

An Overview of Special Stamp Duty, Buyer's Stamp Duty and Ad Valorem Stamp Duty -

• Introduction          • Government Objectives         • Perception          • Summary          • Rates1. IntroductionThe Government of the Hong Kong SAR has recently introduced a number of amendments to the stamp duty regime in Hong Kong with the intention of cooling an over-heated property market.  Implementing legislation for Special Stamp Dut
By: Hilary Cordell

A Guide to Hong Kong's Real Estate System and Property Tax

1. Land Holdings and Registration Systems1.1 Land holdingsAll land in Hong Kong is owned by the People’s Republic of China as State property and is managed by the Government of the Hong Kong Special Administrative Region (Government) under the Basic Law of Hong Kong.Land identified as suitable for private development is sold by the Government thro
By: Hilary Cordell

John Tsang reminds the public to beware of hot sentiment

20 July 2014 - The Financial Secretary of Hong Kong, John Tsang Chun-wah, recently expressed in his blog that he is relieved that the Double Stamp Duty was approved by Legco within the 2014 Legislative Session. Tsang mentioned that demand in the property market has eased after implemention of the Special Stamp Duty, Buyer Stamp Duty and Double Sta

Double Stamp Duty approved by Legco

16 July 2014 - The Double Stamp Duty has been approved by Legco, 17 months after being proposed. The additional stamp duties will be retroactively applied. These have been collected since February of last year and will now be transferred to the government. The measure was introduced as an attempt to cool Hong Kong's property market. For the full a

John Tsang: Ease of “tough measures” might reinvigorate market’s excitement

30 June 2014 - The Financial Secretary of Hong Kong, John Tsang Chun-wah, recently stated in his blog that due to the ongoing low interest rate environment and tight supply for commercial and residential properties, property prices have soared irrationally and have been showing “bubble-like conditions” over the past few years. The market generally

Second reading of Double Stamp Duty Proposal to be held in July

24 June 2014 - On 22 February 2013, the Financial Secretary announced the Government would amend the Stamp Duty Ordinance by adjusting the ad valorem stamp duty rated (ie. Double Stamp Duty Proposal). The proposal attracted much criticism and is still under review as a result. The Hong Kong Economic Times reported that with over a year for deliber

Cheung Kong’s City Point Development in Tsuen Wan sees 1-day sellout

28 May 2014 - The SCMP today reported that Cheung Kong sold all 591 units offered as part of its first batch of sales of the City Point Development in Tsuen Wan yesterday.  Cheung Kong said that the project, with 1,717 units in total, should launch the second batch of sales – 354 units – later this week.The first batch was announced in conjunction

Cooling measures set to be relaxed slightly

14 May 2014 - Measures put in place last year to double stamp duties on all property transactions are set to be modified to provide home buyers more time in which to sell their existing units.Under the current implementation, those exempted from the double stamp duty include first time buyers and those not in possession of another Hong Kong proper
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