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Hong Kong stamp duty

Potential homebuyers gather at Fortune Metropolis for a new batch of 138 units at Blue Coast by CK Asset on April 13, 2024. Photo: Xiaomei Chen

Hong Kong home sales fall to earth following end-of-curbs flight

The market is slowing after a burst of activity following the removal of cooling measures in late February, as high inventory levels and interest rates conspire to restrain sentiment.

  • The market is now slowing after a burst of activity following the removal of cooling measures in late February, analysts say
  • ‘We interpret this surge as a release of pent-up demand and anticipate moderating transactions in the coming months,’ JLL says

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Most Hongkongers see home prices rising in curb-free market: Citibank survey

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Analysis | End of the rollercoaster? Why Hong Kong’s soaring house prices may be in the past

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Hong Kong property sales hit 10-month high in March, to rise further in April

Hong Kong property sales rose to a 10-month high in March, surpassing 5,000 deals a month after the government lifted all property cooling measures, data from the government shows.

A property agency in Hong Kong’s Wan Chai district. On Tuesday, Midland and Centaline, two of Hong Kong’s largest real estate agencies, forecast that the total number of transactions could have breached the 5,000 deals mark in March. Photo: Jelly Tse

Hong Kong home prices worsen in February to lowest level since September 2016

The lived-in home-price index fell 1.7 per cent in February versus 1.2 per cent in January, according to the Rating and Valuation Department. Prices have fallen for 10 months in a row, losing 13.7 per cent in value.

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Mainlanders benefit most from Hong Kong curb removal, snap up luxury homes: JLL

Mainland Chinese buyers are aggressively snapping up new luxury homes worth HK$30 million or more since the removal of all of Hong Kong’s property curbs last month, JLL says.

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Hong Kong property: bullish Henderson to launch 7,100 new homes this year

The developer of Belgravia Place says it will launch 7,100 new homes this year, 5 per cent fewer than the 7,655 units offered in 2023. The firm reported flat underlying profit of US$1.2 billion last year.

Signage for Henderson Land is seen at a construction site in Hong Kong. Photo: Bloomberg

Hong Kong home sales double after curbs ditched but prices have yet to jump

Simon Siu, chairman of Estate Agents Authority, says decision to scrap extra stamp duties last month was ‘shot in the arm’ for ailing property market.

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Wharf sees more struggles ahead in China after weak 2023 property sales, profit

‘China faces considerable domestic challenges, from a sluggish property market to weak consumer sentiment, Wharf says. After a poor result in 2023, more time is needed to revive the property markets, it says.

Editorial | End of curbs must not lead to return of Hong Kong property speculation

Large supply of homes due to come online soon in Hong Kong will, hopefully, help thwart the rise of a new generation of speculators.

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Listings for residential properties for sale are seen at a Midland Holdings Ltd. store in Hong Kong. File photo: Bloomberg

Letters | Hong Kong’s removal of property cooling measures will widen wealth gap

Readers question the rationale behind the removal of stamp duties intended to cool the property market, and point to the benefits of the measure.

A man uses his photo outside a bank advertising mortgages in Hong Kong on February 28. Hong Kong has dropped all property market curbs in a bid to boost buyer sentiment. Photo: AFP

SHKP in pole position to benefit from Hong Kong’s property easing measures

Hong Kong’s largest developer by market capitalisation is being tipped by analysts to emerge as the ‘prime beneficiary’ of the city’s removal of all property cooling measures.

Explainer | With Hong Kong’s property curbs over, keep an eye out for these 5 projects

The removal of property curbs in the Hong Kong government’s budget announcement last week has generated a very encouraging response in the housing market.

Mainland buyers throng to Hong Kong property sales after removal of curbs

The removal of all property sector cooling curbs in Hong Kong has sparked immediate interest among mainland Chinese buyers, who still perceive real estate in the city as a lucrative investment option, industry insiders said.

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A property agent’s office in Hong Kong’s Fortress Hill. The number of transactions is expected to surge by 80 per cent to 5,750 deals this month, Ricacorp Properties says. Photo: Eugene Lee

Hong Kong finance chief unveils budget aimed at replenishing city’s coffers

Financial Secretary Paul Chan surprises market by going for a complete removal of all property cooling measures with immediate effect.

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Financial Secretary Paul Chan. Photo: Elson Li

End of Hong Kong property curbs will not fuel speculation, says government

Financial Secretary Paul Chan says property market conditions have changed since cooling measures were introduced about a decade ago.

Wealthy and travellers targeted by Hong Kong’s new revenue-boosting measures

Residents to pay more tax on annual salaries exceeding HK$5 million, while government will revive 3 per cent tax on hotel stays and raise tobacco duty.

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12 things to know about Hong Kong’s budget and how it will affect you

Immediate scrapping of property curbs, issuing of large amounts of bonds for infrastructure among measures unveiled in finance chief Paul Chan’s budget address.

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Residents watch Paul Chan’s address on television. Consumption vouchers are among the sweeteners to have been scrapped. Photo: Eugene Lee

As it happened: Hong Kong budget – all property curbs scrapped to boost market

All decade-old property cooling measures scrapped with immediate effect as authorities look to revive market.

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Hong Kong property deals pick up as curbs seen relaxed at government budget

Secondary market transactions in Hong Kong flats jumped last week, as buyers took advantage of seven-year low prices, before a possible further relaxation of property cooling measures.

Hong Kong’s finance chief set to remove some property cooling measures

Insiders hint ‘only some measures might be lifted’ while analysts say they are sceptical that home prices will soar even if all cooling measures are removed.

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To aid Hong Kong’s troubled property market, some cooling measures are to be removed. But analysts are sceptical that home prices will soar as a result. Photo: Shutterstock

Hong Kong home prices fall for ninth month, intensify calls for lifting curbs

Hong Kong’s lived-in home prices fell for the ninth straight month in January, intensifying calls to roll back curbs on the sector even as the government is seeking to rein in a ballooning deficit estimated to exceed HK$100 billion (US$12.8 billion).

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View of residential buildings at the Mid-Levels. Photo: May Tse

Hong Kong luxury home prices to rise as Singapore’s fall next year: Knight Frank

The worst is likely over for the luxury property segment globally, with prime home prices set to rise more than previously anticipated in 2024, according to Knight Frank’s Global Prime Residential Forecast.

Hong Kong home sales jump as impact of property easing measures filters through

Transactions for 2,767 new and lived-in homes were completed last month, a 22 per cent increase from October. But overall property deals are on track to end below the all-time low of 59,619 in 2022.

Hong Kong’s property market needs time to adjust to measures: John Lee

Chief Executive John Lee stresses property market woes are not unique to Hong Kong, may persist due to high interest rates.

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John Lee announced the property cooling measures in his second policy address last month. Photo: Yik Yeung-man

Editorial | Sensible compromise on stamp duties right path for Hong Kong property market

Changes announced in the policy address relaxed some curbs on home sales for the first time in more than a decade. A close eye needs to be kept on the changes so that the market can recover without overheating.

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The Hong Kong government has removed some curbs on property sales, but must be vigilant to avoid the market getting too hot. Photo: May Tse

Hong Kong leader unveils comprehensive blueprint to rescue sluggish economy

In a lengthy and wide-ranging policy address, Chief Executive John Lee also put the focus on greater integration with mainland China.

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6 key takeaways from Hong Kong leader John Lee’s policy address

Hong Kong’s leader proposes raft of measures ranging from easing of property curbs, to offering handouts to promote childbirths and enacting security legislation.

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Hong Kong stamp duty
To rein in the city's runaway housing prices, Hong Kong's Financial Secretary John Tsang Chun-wah announced an additional 15 per cent stamp duty on non-permanent-resident and corporate buyers starting from October 27, 2012. The move prompted speculation over the effectiveness of taxation on the real estate market and criticisms that Hong Kong was turning away from its roots as a free market economy in favour of a more protectionist market environment.  
last updated:
9 September, 2024
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