Hong Kong’s 6.5% stamp duty will not stop luxury homebuyers from mainland China: analysts

The increase in stamp duty on ultra-luxury homes above HK$100 million (US$12.8 million) is unlikely to change buying behaviour, analysts said, as the structural forces underpinning demand from mainland Chinese buyers could outweigh the impact of the rise in transaction costs. The Hong Kong government, in the annual budget on Wednesday, increased the tax rate on residential transactions above HK$100 million to 6.5 per cent from 4.25 per cent amid a surge in demand for high-end property from...

By Peggy Ye