In Depth: Will Hong Kong’s Tax Tweaks End Its Real Estate Slump?

Rescue measures intended to coax mainland Chinese to buy residential property in Hong Kong have failed to woo, as the financial hub’s property market slump deepens.

It comes six weeks after Hong Kong Chief Executive John Lee Ka-chiu tweaked official housing policy, lowering purchase duties and weakening disincentives against quick resales.

“My WeChat has been buzzing with inquiries from (Hong Kong-based mainlanders) about the specific (changes), but not a single one is interested in viewing properties,” said a real estate agent surnamed Pan, who has some two decades’ experience in Hong Kong.