Hong Kong scraps property taxes

By Agence France-Presse

Feb 29, 2024 12:18 am

HONG KONG: Hong Kong has axed all property transaction taxes in a bid to revive the depressed housing market, Finance Minister Paul Chan said in his annual budget speech on Wednesday.

The finance hub's economy was initially buoyed by China's post-pandemic reopening but recovery has since slowed and residential property prices are at a multiyear low.

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