{"id":3261,"date":"2016-11-07T09:53:45","date_gmt":"2016-11-07T01:53:45","guid":{"rendered":"http:\/\/www.spacious.hk\/en\/blog\/?p=3261"},"modified":"2019-09-02T11:55:32","modified_gmt":"2019-09-02T03:55:32","slug":"double-stamp-duty-raised-to-15-second-hand-market-cools-down-after-dsd-rise","status":"publish","type":"post","link":"https:\/\/www.spacious.hk\/en\/blog\/double-stamp-duty-raised-to-15-second-hand-market-cools-down-after-dsd-rise","title":{"rendered":"Double Stamp Duty Raised To 15%, Second Hand Market Cools Down After DSD Rise"},"content":{"rendered":"<p><strong>Double Stamp Duty Raised To 15%<\/strong><br \/>\nThe government has raised the stamp duty on property transactions for non first-time buyers to 15%, effective November 5. This double stamp duty (DSD) only applied on individuals, corporate and overseas non-first-time buyers, charging 1.5% to 8.5% tax depending on the price of the property. The government claimed that this will help people who want to own homes, as first-time buyer will be exempted from the policy.<\/p>\n<p><strong>Second Hand Market Cools Down After DSD Rise<br \/>\n<\/strong>After the double stamp duty (DSD) being raised to 15%, second-hand market transactions decreased drastically. Only 3 transactions were recorded in the major 10 housing estates last Saturday. On the other hand, starter homes are still viral among first-time buyers and users, while some investors are not stopped by the increased tax. The Wings II in Tseung Kwan O recorded a two-room unit transaction, with the price increased by HK$100,000 to HK$8,100,000 by the seller after the policy launched. It is The Wing&#8217;s&nbsp;first two-room unit selling over HK$8 million and broke the price-per-square-foot record of the estate.<\/p>\n<p><strong>Alto Residences Still Viral Among First-time Buyers<br \/>\n<\/strong>Queues were found in the first-sale site of Tseung Kwan O&#8217;s new project Alto Residences last Saturday. Under the new double stamp duty policy, sources claimed that 80% investors did not show up while first-time buyers remained unaffected. Until 8PM last Saturday, 77 over 100 available units were sold. Meanwhile, agents claimed that there were at 4 non-local buyers including Mainland and Macau buyers, investing&nbsp;over HK$36 million.<\/p>\n<p>For more information on property news and prices, please visit our website at&nbsp;<a href=\"https:\/\/www.spacious.hk\/zh-tw\" target=\"_blank\" rel=\"dofollow noopener noreferrer\">https:\/\/www.spacious.hk\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Double Stamp Duty Raised To 15% The government has raised the stamp duty on property transactions for non first-time buyers to 15%, effective November 5. This double stamp duty (DSD) only applied on individuals, corporate and overseas non-first-time buyers, charging 1.5% to 8.5% tax depending on the price of the property. The government claimed that this will help people who [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3265,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[129,69,68,70,82,79,67,130],"class_list":["post-3261","post","type-post","status-publish","format-standard","hentry","category-hong-kong-property","tag-government","tag-headline","tag-hot-news","tag-hot-news-headline","tag-market","tag-market-news","tag-spacious-news","tag-tax"],"_links":{"self":[{"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/posts\/3261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/comments?post=3261"}],"version-history":[{"count":0,"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/posts\/3261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/media\/3265"}],"wp:attachment":[{"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/media?parent=3261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/categories?post=3261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.spacious.hk\/en\/blog\/wp-json\/wp\/v2\/tags?post=3261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}