Hong Kong to Reduce Property Tax for Low-End Home Transactions

The Hong Kong government will lower the stamp duty for some cheap homes in its latest attempt to boost the lackluster property market.

Residential units valued at HK$4 million ($515,000) or below will be subject to the minimum stamp duty bracket at HK$100, the city’s finance chief Paul Chan announced in his budget speech on Wednesday. Previously, transactions above HK$3 million but under HK$4 million were charged a levy of as much as 1.5% of the deal value.

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The move, affecting only the low-end segment of ...