Country's anti speculation measures taking effect.

By bne IntelliNews December 10, 2010
Excitement in the property market has reduced in the past few weeks in Hong Kong, indicating that the government's anti-speculation measures are taking effect. As reported by news.gov.hk, Acting Financial Secretary Prof KC Chan told policy makers that as the Special Stamp Duty is applicable to all residential units irrespective of size or value, there should not be capital transfer from the luxury market to the mass market. He added that the market situation would be monitored closely and more appropriate measures would be taken as and when necessary.

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