Stamp duty hike an effective cooling measure, says HK housing secretary
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Hong Kong
THE Hong Kong government has pronounced its November 2016 increase in stamp duty on residential property transactions to a flat rate of 15 per cent as an effective cooling measure.
The declaration by Anthony Cheung Bing-leung, Secretary for Transport and Housing, on Wednesday was the first public evaluation by the government of the stamp-duty hike. It was the second time this duty has been raised in three years to cool soaring real-estate prices in the city often acknowledged as the world's least affordable.
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