Developers urged Hong Kong to help grassroots middle class

the government’s budget for the upcoming fiscal year is about to be announced tomorrow (28th), and the market generally hopes to have the Huimin measures. Huang Guangyao, Managing Director of Wheelock Real Estate, bluntly stated that last year the government had a large surplus and was able to do more to ease the plight of the people. Apart from helping the grassroots, he also hoped that assistance would be given to assisting more neglected middle-class families in the past, such as taxation .

Zhao Guoxiong: do not need to reduce spicy

Regarding the government’s forthcoming budget, Zhao Guoxiong, an executive director of Cheung Kong (1113), pointed out that there is no possibility of “reducing spicy food” and no relevant market demand. As for relaxing the mortgage, it is a good thing to help the public get on the train. I also hope that the Government can continue to launch more land so that more developers can build more buildings so that more people can get on the train.

In addition, Fan Li Bao Executive Director and CEO Fan Tong suggested that the government optimize the “hot trick”, for example, stamp duty reduced from 3 years to 2 years. At present, Hong Kong residents who purchase flats for resale within 3 years are subject to additional stamp duty (SSD). In his opinion, speculators usually do not hold properties for an extended period of time and usually can hold property for 3 years, all of which have certain needs for housing Buyers.

Fan system: increased plot ratio

As regards non-resident buyer stamp duty (BSD). Fan said that the government can impose taxes on property speculators for properties with a property price of less than $ 10 million to prevent mainland buyers from competing with first time home buyers in Hong Kong for buying property. Those who can buy 10 million or more properties are mostly middle-class buyers who have the financial means to optimize this policy. Lastly, he also suggested that the government should expedite the rezoning of agricultural land and increase the land plot ratio, as well as increase the manpower of government departments to speed up work efficiency.