15pc stamp duty will not dampen rising prices, says realtor

Friday, April 21, 2017

The 15 percent stamp duty on first-time home buyers who purchase multiple flats in one go is not expected to drag down home prices, as these transactions makeup less than 5 percent of total sales, leading realtor Knight Frank said today.
Some developers could offer further sweeteners to counter the impact of the levy, is suggested.
The latest figures from the Rating and Valuation Department reconfirmed increasing housing completions in the coming years. While abundant supply and interest-rate rises will help suppress price growth, high land prices and strong housing demand will lend support to home prices, which are expected to rise a mild 5 percent in 2017, Knight Frank said.