Showing posts with the label Hong Kong property tax

How to calculate Hong Kong stamp duty on property - update 2018

It is time for me to update the guidance I provided on HK property stamp duty few years ago here:  HK Stamp Duty on Property  for 2018. Whilst the principles remain the same (eg charge stamp duty, as part of various measures to keep the market from rising too quickly), the stamp duty calculation formula is a little more complicated.  This increasing complexity is a shame, as Hong Kong has always prided itself on simplicity when it comes to doing financial transactions, as well as being a country (well now actually in fact a "city", albeit a very special one) that embraces the free market and abstains as much as possible from interference in the free market. These "cooling measures" are intended to suppress value, (eg keeping prices down below what would be the case in a more open market). Sooner or later, when stamp duties are normalized, the prices of property in Hong Kong will move up higher as the many years of suppressed value is unlocked released.