Spacious
1,000+ Reviews
Install

12/16 News Roundup: Property Shares Plunged After US Fed's Rate Hike, November's Stamp Duty Cases Surged

Hong Kong Property | December 16, 2016

Property Shares Plunged After US Fed’s Rate Hike
Shares plunged in Hong Kong yesterday led by property firms, following the US Federal’s decision to raise interest rates and the possibility that there might be three rate increases next year.. The Hang Seng Index dived 1.77% to 22,059.40 while HSI – Properties dropped 2.6% at the close. Among all the property shares, Cheung Kong Property (1113) fell 2.43% to HK$50.25, while New World Development (0017) tumbled 2.80% to HK$8.33. Sino Land (0083) sank 2.35% to HK$11.66.

November’s Stamp Duty Cases Surged
According to statistics from the Inland Revenue Department, cases of stamp duties including Special Stamp Duty (SSD), Buyer’s Stamp Duty (BSD) and Double Stamp Duty (DSD) in November have all increased and the total revenue reached HK$3.45 billion, 2.7% higher than the previous month. The number of cases of DSD reached a peak of 4,995, a 27% surge from October while BSD cases increased 50% to 494 compared with previous month’s data.

For more information on property news and prices, please visit our website at https://www.spacious.hk/.

Recommended Articles

26/7 News Roundup: Novi rolling out first 60 units, Cheung Kong to launch 185 flats in My Central

Hong Kong Property | July 26, 2017

Two Kai Tak New Projects Ready For Sale, Site Deal Heats Up The Latitude Transactions

Hong Kong Property | November 4, 2016

1/6 News Roundup: One Kai Tak II Prices At HK$17,589/sqft, Tsing Yi Public House Sold at HK Record Price

Hong Kong Property | January 6, 2017

Subscribe to Our Blog

Stay up to date with the latest property news and insights.

Exit mobile version