February 22, 2013 / 9:31 AM / 5 years ago

Hong Kong government unveils more property-cooling measures

HONG KONG, Feb 22 (Reuters) - Hong Kong will impose new measures, including raising buyers’ stamp duties, to cool its overheated property sector, which has some of the world’s most expensive apartments, officials said on Friday.

Hong Kong’s key government officials, including Financial Secretary John Tsang and Housing and Transport Secretary Anthony Cheung, held a joint briefing to announce the latest moves and said prices had surged 120 percent from a low set in 2008.

Since October 2009, the government has taken a series of steps to curb prices, including a 15 percent property tax on foreign buyers, mortgage restrictions and taxes on quick resales. However, the home-price pressures have continued to pose policy challenges for officials. (Reporting by Lee Chyen Yee; Editing by Ken Wills)

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