Xiaomo: Hong Kong Policy Address May Raise Stamp Duty on Luxury Homes, but the overall impact is still manageable

The Zhitong Finance App has learned that the Hong Kong government will publish its first five-year plan and a new “Policy Address” next Wednesday (September 16). Xiaomo expects that the Hong Kong government may further increase the stamp duty on luxury properties in the upcoming “Policy Address”, but it is expected that the impact will be manageable.

Komo pointed out that although this is not its basic expectation, it does not completely rule out the possibility of further increasing the stamp duty on luxury properties. Even if this happens, the bank expects the impact to remain manageable.

Xiaomo added that it is expected that the first five-year plan report issued by the Hong Kong government will not introduce any meaningful support measures for the private housing market. The Policy Address is likely to focus on speeding up development in the north and attracting talent, and these initiatives are expected to support housing demand. However, in the short term, Hong Kong developers' stock prices will be mainly affected by interest rate prospects.