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Hong Kong scraps property taxes to revive sluggish market
Credit: IndiaTimes- Published on February 28, 2024
Hong Kong's finance minister, Paul Chan, canceled three major property transaction taxes to revive the weak housing market. The cancellation aims to boost the Hong Kong economy, attract tourists, relax mortgage rules, increase trading volume, and stimulate property prices for overall economic revival.
Video credit: AFP English
Published on February 28, 2024 - 01:08
Hong Kong scraps property taxes to revive market
Hong Kong has axed three major property transaction taxes in a bid to revive its depressed housing market, reversing measures introduced more than a decade ago to curb speculation and rein in sky-high prices.
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