At the end of October, the Hong Kong government slapped a punitive 15 per cent stamp duty on all non-resident and corporate buyers of residential properties in an attempt to make homes in the city more affordable for locals. More than two months later, we are beginning to get a taste of how the policy is working.
Clearly the new stamp duty, introduced at the same time as tax rates on quick sales were jacked up, is having an appreciable effect.
via Business feed http://www.scmp.com/business/article/1124121/early-signs-suggest-new-stamp-duties-havent-reined-prices
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