The social atmosphere in Hong Kong continued to be bad in July and August due to the anti-reforms
The Inland Revenue Department announced that in August, the three major hotspots involved in the property market, namely Double Stamp Duty (DSD), reflected the purchase of foreign buyers entering the market. Home stamp duty (BSD) and additional stamp duty (SSD), involving a total of 1,730 transactions, compared with 2026 cases in July, down 15% month-on-month, after 1234 cases of the Lunar New Year traditional home market in February, this year Low; the total tax revenue of the three major spicy taxes in August was 1.291 billion yuan, down 20% from the month of July with a record of 1.834 billion yuan, the same low record this year after the record of 950 million in February.
In the case of the buyer’s stamp duty of 330 million, the number of BSD transactions in August was 242, compared with 223 cases in July, which increased by 8.5%, which is among the three major taxes. The monthly tax increase is only 331 million yuan, which is 34% lower than the 500 million yuan recorded in July.
In fact, among the three major spicy taxes, only the tax revenue of SSDs recorded a monthly increase
The relevant tax revenue was 22.5 million yuan, which was 19.2 million yuan in July, an increase of 17% month-on-month; 33 cases were reduced by 8% month-on-month.
In addition, there were 1455 transactions involving DSD in August, involving a total tax of 937 million yuan. The number of taxes and tax-related taxes was 1767 and 136 million yuan in July, down 18% and 29% respectively.
The double-label tax on residential houses fell by nearly 40% in the month, of which 392 were related to residential DSD, taxation of 590 million yuan, the number and tax involved, which were about 10% and 36% lower than that in July; the transaction of non-residential DSD The number of cases was 1063, and the tax-related amount was 346 million yuan, down 20% and 12% respectively.
Chen Haichao, head of research at Lijiage, said that the overall number of hot-selling taxes in the last month was low
I believe that the social movement in Hong Kong is getting worse and stronger, and the Sino-US trade war is continuing. The external market is not stable, and buyers are waiting. Attitude, the speed of entering the market slowed down, so the trading volume was soft. Among them, there were only 2,658 second-hand transactions in August, down 5% from the 2812 in July.
Analysis: Hong Kong’s external worries affect the income of spicy tax. Chen continued, although there is no shortage of price reductions in the market recently, and the Chief Executive announced the formal withdrawal of the draft amendment last week, the market sentiment has improved, but I believe the market is trading. It will remain soft in the short term.