HK to raise stamp duty to 6.5 percent on properties over $100 million
發佈日期: 2026-02-25 19:50
TVB News
In his Budget speech, the Financial Secretary suggests an increase in the property transaction stamp duty rate to 6.5 percent for luxury residential properties valued at over 100 million dollars.
Meanwhile, with the high vacancy rates in commercial properties, the government will not sell any commercial plots in the coming fiscal year.
This marks the second year of suspension of sales in this catergory.
In last year's Budget, the government reduced the stamp duty to just 100 dollars on property transaction under four million dollars.
Today, Financial Secretary Paul Chan said the price of residential property rose by 3.3 percent year-on-year, following three years of decline.
Rent rose by 4.3 percent.
In line with the "affordable users pay" principles, the government will raise the stamp duty on residential property transactions exceeding 100 million dollars from the current rate of 4.25 percent to 6.5 percent.
The adjustment is expected to account for 0.3 percent of the residential property transaction volume and is estimated to generate one billion dollars of revenue.
After Legco approves the Budget, the higher stamp duty will go into effect immediately.
Founder of Centaline Property Agency Shih Wing-ching believes the move will not significantly impact the luxury property market, as buyers are unlikely to focus on such minor amounts, since the possible rise in property prices would compensate for the tax increase.
Shih thinks that the measure shows the government's confidence in the residential property market, which is stable enough to withstand challenges.
The situation on commercial properties is a different story.
The government will continue to suspend the sales of commercial land for the second consecutive year, considering the vacancy rate as well as the future supply and demand conditions.
In terms of public housing, including the Light Public Housing initiative, the supply is set to reach 196,000 units in the coming five years, which is about three percent higher than that of the previous five-year period.
As for private residential units, the government expects around 17,000 units will be completed annually over the next five years.
