Insight into Hong Kong buyer's stamp duty

The Hong Kong government's Buyer's Stamp Duty, a 15 per cent tax on property transactions imposed on non-permanent residents, is designed to cut speculation in the local property market. In particular, it is designed to cut speculation by mainland buyers.

Speculation? What speculators? One measure of speculation is confirmor sales, which is where a property owner resells a property before he has transferred legal title. It is flat flipping in its purest sense.

via Business feed http://www.scmp.com/business/money/wealth/article/1074661/insight-hong-kong-buyers-stamp-duty