Hong Kong property transactions rise after stamp duty measures are eased
Volumes jumped 34 percent on the month. Prices did not follow, which is the usual sequence.
Residential property transactions rose 34 percent month on month following the removal of several stamp duty measures that had been in place for over a decade.
Prices were roughly unchanged. That combination, volumes up and prices flat, is the normal first stage after a transaction tax is removed: buyers and sellers who had been deterred by the cost of transacting come to market, and the backlog clears before anything happens to price.
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