Commentary: Stamp of Approval for Hong Kong’s Property Rescue Package

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An appartment complex in Victoria Harbour in Hong Kong. Photo: VCG

The Hong Kong Special Administrative Region government has decisively intervened to rescue the property market, attracting widespread attention.

According to the Financial Budget announced on Feb. 28, all residential property transactions will no longer be subject to additional stamp duty, buyer’s stamp duty, and new residential stamp duty.

This signifies the complete withdrawal of cooling measures on Hong Kong’s property market.

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