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New rules hit Hong Kong property

Posted on 23 November 2010

From WSJ: Tougher-than-anticipated measures to curb Hong Kong’s soaring real-estate prices began rippling through the market Monday, driving down shares of property developers and prompting forecasts of declining home sales.
On Friday, the Hong Kong government slapped additional stamp duties on properties that are resold within two years and raised down-payment requirements on high-end home purchases. On Monday, government inflation figures showed Hong Kong property prices were up 15% in the January-September period, after a 30% surge in 2009……………………………………….Full Article: Source

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