It was motivated by the cancellation of double stamp duty on commercial properties.
Real estate fund manager KaiLong has purchased an industrial property in Cheung Sha Wan for almost $1b.
According to KaiLong Hong Kong CEO Ivan Ho, the purchase was motivated by the recent cancellation of the double stamp duty (DSD) on commercial properties and the long-term outlook for the market.
“Protests, coronavirus pandemic and trade war: all these risk factors have been priced in. We expect a more stable future in the years ahead,” Ho said.
Hong Kong has recently abolished the double ad valorem DSD imposed on non-residential property transactions due to the economic downturn and uncertainties caused by the COVID-19 pandemic
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