Article from Property prices rally can not stop, the fire spread to the industrial and commercial properties, the Government four months to re-introduce the "spicy strokes, 200 million yuan of residential and non-residential The stamp duty rate from 4.25%, the highest doubly to 8.5%; another to combat commercial property speculation, lowering the mortgage ceiling from 50% Zhisi Cheng. For flat first-time home buyers and those exempted from the payment of the new tax rate. Spicy trick "last night, also the city developers, estate agents and prospective buyers to kill off their feet, grab new disc selling securities prior to the commencement of the new tactics midnight, also divested mall in the city passed an urgent telegram buyers contract, but half of the investment by shrinking the sand. (There Related News Journal B1 version)
Tin Shui Wai land zero tenders not affect government moves. Government yesterday next Wednesday before the Budget announced a new regulation of the property market measures, this time starting from ad valorem stamp duty, and comprehensively improve the tax bands, residential and non-residential clean sweep: 2 million, or following the transaction, the transaction tax rate from $ 100 to $ amount of 1.5%; transactions tax rate from 4.25 percent the highest plus 8.5%. The HKMA also cut commercial property LTV% drop from 50% of the people of Hong Kong buyers LTV Zhisi Cheng commercial properties to curb speculation; turn mortgage repayment stress tests by the interest rate increase of 2% to 3% . (HKMA moves detailed A3 version)
John C Tsang: the property market "very unhealthy."
Financial Secretary John Tsang said yesterday, the two enhanced version of the stamp duty measures launched in October last year, the property market is steady for some time, but the recent re-emergence of the "excitement" signs. Property prices rose by 2% in January of this year, since February and still keep rising, the overall property prices rose 120% over 2008 low tired the public contributions burden ratio has reached 52% in the fourth quarter of last year. He warned that the current property market is "very unhealthy" and the repayment burden ratio will rise to 68% if interest rates rose by three percentage points.
He was referring to the good momentum of the U.S. economy this year, the U.S. Federal Reserve to raise interest rates may be earlier than the market expected in 2015, once the United States return to the interest rate hike cycle, interest rates in Hong Kong will inevitably follow rising public mortgage affordability will be affected, also greatly increased the risk of fluctuations in property prices, the government is necessary to launch a new round of measures to strengthen demand management.
New measures with long-fully divested Hotel. Unrelated
Unlike the past several measures, the scope of this regulation, including commercial, parking spaces and other non-residential properties. Financial Secretary stressed that the measures of CKH divested hotel, refers to the non-residential property market is also hot. He said that last year, the increase in the prices of non-residential property is very obvious, shop prices rose by 39%, office space increased by 23% and 44% rise in industrial buildings, trading volume also showed a significant rise.
Sell half a year after the first buy for flat
Although the new tax rate impact of different types of buildings, but Mr Tsang stressed that the purpose of the measures to take care of the local residents, first-time home buyers and for flat who will be exempted. Permanent resident of the first-time purchase of residential, signed a sale and purchase agreement, as long as no other residential properties in Hong Kong, only need the original duty rate payment of stamp duty. Which a buyer as a permanent resident, and another named next of kin, when they buy property does not hold residential property also exempt. On exchange floor who exemption, there are two ways, one is the "first sale buy", just under the old tax rate can; "Buy and sell" shall initially the new tax rate, and then acquired new homes sold within six months of the old property, when they completed the sale of the old residential property transactions, you can apply for a refund of the difference between the old and new tax to the Inland Revenue Department.
Again, Mr John Tsang, will continue to closely monitor the market situation, there is need to continue to push the measures, but also does not exclude the BSD and SSD is extended to the scope of non-residential property.
BSD and SSD does not rule out expansion and non-residential
"Spicy strokes raid last night, the city development, real estate agents and prospective buyers killed off their feet, a number of new disk to grab before the commencement of the new tactics midnight to sell goods, which the Xindi Wings 2 Lightning sold 92 partners . In addition, the city passed CEHL divested Causeway Place last night urgent telegram has been reserved premises buyers contract, but half of investors provisional miss it. (New disc selling securities news see B1 version)
