Hong Kong builders urge government to defer roll out of vacancy tax as they fear it will intensify market slowdown

Hong Kong developers have urged the government to consider a temporary suspension of the proposed vacancy tax, as they fear it would intensify the slowdown in the property market already reeling from the US-China trade war and social turmoil.“The introduction of the vacancy tax at the moment certainly will add fuel to the fire,” the Real Estate Developers Association of Hong Kong (Reda), said on Friday.“The Hong Kong government forecast shows that the city’s economy is undergoing adjustment. If…

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