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Hong Kong announces property tax for foreigners

Posted on 31 October 2012

Foreign property buyers in Hong Kong must now pay a 15 per cent tax. Hong Kong has introduced a 15 per cent tax on foreign buyers in a bid to cool down its property market.
At the same time it has raised stamp duty for short-term speculators, as property prices overtake the record highs last seen back in 1997. In the first nine months of the year the former British colony’s property market has rocketed 20 per cent………………………………………..Full Article: Source


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