The Hong Kong government has unveiled a fresh round of property cooling measures in an attempt to rein in soaring housing prices. The new measures primarily target non-permanent residents and corporations purchasing property in the city.

Key Measures

• Increased Stamp Duty: The stamp duty for non-permanent residents and corporations will be significantly increased.
• Targeting Speculation: These measures are designed to curb speculative activities in the property market.

Government officials stated that the measures are necessary to ensure the healthy and sustainable development of the property market, making homeownership more accessible to local residents. The effectiveness of these measures will be closely monitored in the coming months.