It seems everybody needs a home but more than one is too many in HK

Source : SCMP, Nov 4, 2016

Author : Peggy Sito, Jennifer Li

Hong Kong’s top official has raised the property stamp duty for the second time in three years to tame soaring real estate prices in the world’s least affordable major city, ahead of an election campaign where housing affordability is likely to be a central issue.

Effective November 5, the stamp duty on property transactions for non-first-time buyers will be raised to 15 percent for individuals and corporate buyers, Chief Executive Leung Chun-ying said in a televised press conference in the city.

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