HONG KONG: Hong Kong on Wednesday announced major measures to bolster its flagging real estate market by scrapping all tightening measures for residential properties, aimed at helping the city's economy which is expected to grow at a tepid 2.5%-3.5% this year.
The financial hub will cancel all additional stamp duties on transactions and waive stamp duties payable on the transfer of REIT units, Hong Kong Financial Secretary Paul Chan told lawmakers in his annual budget.
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