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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Tom who wrote (2569)	11/16/1998 10:09:00 PM
From: Richard Tsang	Read Replies (1) \| Respond to of 2951

Tom, Just learnt that Shanghai is offering special tax incentive to home buyers. Effective 6/1/98, all home buyers can claim refund of income tax paid for period of five years (1998-2003) up to the full cost of the home purchased in the same period. It appears that there is some anxiety in the government to help the property developers who have a hard time selling many newly built apartments. Great savings for the already better-to-do emerging middle class! Another example of Shanghai's boldness in trying new concepts. Wonder what this will do to the property price there. RT