Spacious
1,000+ Reviews
Install

Mainland Buyer Paid 40% Tax For Sheung Shui Luxury Home, Chinese Buyers Snapped Up 8 Units From Mantin Heights

Hong Kong Property | November 29, 2016

Mainland Buyer Paid 40% Tax For Sheung Shui Luxury Home
Mainland buyers continue to invest in Hong Kong’s luxury homes. A Mainland buyer purchased a 1,022-square-foot three-room unit in Sheung Shui’s Woodland Crest for HK$9 million, or HK$8,806 per square foot. In addition to the 15% buyer’s stamp duty and 15% double stamp duty, the buyer is willing to pay the 10% special stamp duty – since the holding period of this property by the seller is less than 36 months. The total tax is estimated to be 40% of the property price – that is HK$3.6 million.

Chinese Buyers Snapped Up 8 Units From Mantin Heights
A financial group who acquired 6 units from Mantin Heights for HK$65.49 million snapped up another 8 units from the estate for over HK$90 million yesterday, with an average cost of HK$19,680 per square foot. As most buyers in the group are from Mainland China, they have to pay 30% stamp duty for some of the purchased flats.

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

Recommended Articles

4/18 News Roundup: Eight Regency Received 1,800 Subscriptions, Easter Second Home Deals Up 25%

Hong Kong Property | April 18, 2017

7/5 News Roundup: Ocean Supreme to Roll Out 412 Units This Saturday, Champion REIT Putting Langham Place Tower for Sale

Hong Kong Property | July 5, 2017

4/6 News Roundup: March Home Sales Rose 43.6%, Government Warning on Multi-flat Stamp Duty Loophole

Hong Kong Property | April 6, 2017

Subscribe to Our Blog

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