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 Stamp Duty - the latter of which was the third measure introduced last year.
Despite easing of demand, Tsang added a note of caution regarding recent hot sentiment in the property market, especially for small budget homes. Once the trend is reversed, small budget home buyers may not able to withstand the pressure. Buyers are reminded to stay aware of market trends, changes in interest rate, and their own financials.
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