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Billionaires buying first homes skirt Hong Kong's new curbs

Published Tue, Dec 13, 2016 · 09:50 PM

Hong Kong

HERE'S how billionaire Edwin Leong, one of Hong Kong's largest retail landlords, got around Hong Kong's new property curbs and saved almost US$17 million on his tax bill.

He managed to qualify as a first- time homebuyer, purchasing three luxury apartments on the Peak for HK$1.2 billion (S$221 million) on the same day last month.

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