[ET Net News Agency, 29 June 2018] Hong Kong's Executive Council, led by the Hong Kong
Chief Executive, resolved yesterday to impose three new tightening policies, including to
impose a Vacancy Tax.
The research house cited Centaline's data noting that, as of 31 March 2018, there were
9,334 units of inventories.
Nomura estimated that a roughly 5% Vacancy Tax rate could be charged on unsold primary
units. Sun Hung Kai Properties (SHKP)(00016) would still be the most affected with 3,118
unsold primary units as of March 2018, than Wheelock (00020)(2,121 units, but should be
much less with Malibu virtually sold out), and Henderson Land (00012)(1,713 units).
But it expects little impact for New World Development (00017), CK Asset (01113), Kerry
Properties (00683) or Sino Land (00083). (KL)