Conditions now are different from those that prompted the government to impose restrictions in the early 2010s, Chan said on Wednesday when asked about the possibility of lifting market control measures in a media briefing. Authorities had to suppress speculation and investment demands back then, in contrast with the lower prices and fewer sales being seen now, Chan added.
The curbs introduced more than a decade ago include a 15% stamp duty on buyers who don’t have permanent residency, and another 15% levy on non-resident buyers and residents who already own a home.
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