20 Mar '13, 3pm

Hong Kong top for price growth Property Auctions News Property ...: Hong Kong top for price growth - Read late...

Hong Kong lead the world in house price growth during 2012 according to the latest Knight Frank Global House Price Index which was published yesterday. Mainstream property prices in Hong Kong rose on average by 23.6 percent during 2012. With supply lagging, demand from mainland Chinese investors keen to get their slice of Hong Kong’s real estate prices has surged. Average prices around the world rose by 4.3 percent, according to the report. Kate Everett-Allen of Knight Frank said: “If the Hong Kong Government’s latest efforts to increase stamp duty is a measure of their determination to cool price growth we can expect a return to more muted growth in 2013. Properties worth below HK$2 million (S$3.2 million) now incur a stamp duty of 1.5 percent, while the rate for properties worth above HK$2 million has been doubled, to up to 8.5 percent of the property’s value.” Meanwhile...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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