--- title: "\"Big Banks\" JP Morgan: Surprised but not worried about the Hong Kong government's increase of over HKD 100 million in luxury property stamp duty, describing it as a redistribution fiscal policy" description: "JP Morgan is surprised by the Hong Kong government's increase of over HKD 100 million in luxury property stamp duty, but it is not concerned, believing that this policy will only affect 0.3% of transa" type: "news" locale: "en" url: "https://longbridge.com/en/news/276977200.md" published_at: "2026-02-26T03:14:52.000Z" --- # "Big Banks" JP Morgan: Surprised but not worried about the Hong Kong government's increase of over HKD 100 million in luxury property stamp duty, describing it as a redistribution fiscal policy > JP Morgan is surprised by the Hong Kong government's increase of over HKD 100 million in luxury property stamp duty, but it is not concerned, believing that this policy will only affect 0.3% of transactions, primarily taxing super-rich individuals to subsidize low-income groups. The additional costs may be offset by rising property prices and could trigger a "fear of missing out" sentiment among buyers. The bank is optimistic about developers such as New World Development, Henderson Land, and Sino Land, as well as rental stocks like Hang Lung Properties and Swire Properties JP Morgan published a research report indicating surprise at the increase in stamp duty rates for properties valued over HKD 100 million in the 2026/27 fiscal budget. Although the headline appears negative, the bank stated that it is not overly concerned, as this will only affect 0.3% of transactions, with only 169 transactions exceeding HKD 100 million in 2025; from the perspective of ultra-wealthy homebuyers, the additional cost (2.25%) may be negligible, as rising property prices in just one or two months could cover this cost; the aim of this policy is not to suppress the real estate market, but rather to serve as a redistributive fiscal policy, taxing the ultra-wealthy to subsidize low-income groups. The bank noted that, in fact, this could even trigger a stronger "fear of missing out" (FOMO) sentiment, especially among buyers purchasing properties valued between HKD 50 million and HKD 99 million, who may worry about having to pay higher stamp duties in the future. The bank stated that after the news was announced, the sector corrected by 1% to 2%, and it believes this is more like an excuse for profit-taking after a strong performance year-to-date. The bank indicated that the most favored developers currently include Sun Hung Kai Properties (00016.HK), Henderson Land Development (00012.HK), and Sino Land (00083.HK); rental stocks include Hang Lung Properties (00101.HK) and Swire Properties (01972.HK) ### Related Stocks - [00097.HK - HENDERSON INV](https://longbridge.com/en/quote/00097.HK.md) - [00010.HK - HANG LUNG GROUP](https://longbridge.com/en/quote/00010.HK.md) - [00016.HK - SHK PPT](https://longbridge.com/en/quote/00016.HK.md) - [00083.HK - SINO LAND](https://longbridge.com/en/quote/00083.HK.md) - [00247.HK - TST PROPERTIES](https://longbridge.com/en/quote/00247.HK.md) - [00101.HK - HANG LUNG PPT](https://longbridge.com/en/quote/00101.HK.md) - [01972.HK - SWIREPROPERTIES](https://longbridge.com/en/quote/01972.HK.md) - [00778.HK - FORTUNE REIT](https://longbridge.com/en/quote/00778.HK.md) - [00012.HK - HENDERSON LAND](https://longbridge.com/en/quote/00012.HK.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 大华继显将新鸿基地产的评级从买入下调至持有，目标价为 143.80 港元 | UOB 凯基将新鸿基地产的评级从买入下调至持有，目标价为 143.80 港元 | [Link](https://longbridge.com/en/news/276707492.md) | | 信和置业（SNLAY）预计将在周五公布财报 | 信和置业 (OTCMKTS:SNLAY) 定于 2 月 27 日（星期五）公布财报，预计每股收益为 0.1599 美元，收入为 5.34498 亿美元。该股上涨 1.7%，报 8.30 美元，交易量为 20,281 股。高盛将信和置业的评级 | [Link](https://longbridge.com/en/news/276486615.md) | | 尖沙咀置业如何将物流与能源领域的新商业机会相结合 | TST 集团是一家物流公司，专注于电动出行，认为其 90% 的路线可以由电动卡车服务。该公司推出了 PamSun 品牌，以开发一个仓库充电网络，并将其车队扩大到 30 辆电池电动卡车。TST 还通过其设施上的光伏发电生成自己的绿色电力。计划 | [Link](https://longbridge.com/en/news/274956230.md) | | 置富产业信托以现金和股份支付管理费 | 置富产业信托已宣布向 ESR 资产管理支付其管理人的基本费用，金额为每年物业价值的 0.3%，按季度支付。该支付将以现金和发行 4,518,257 个新单位的方式进行，符合 REIT 法规的限制。由于该发行在本财年的总流通单位的 3% 上限 | [Link](https://longbridge.com/en/news/272046518.md) | | 新鸿基地产（SUHJY）将于周四公布财报 | 新鸿基地产（OTCMKTS:SUHJY）将于 2 月 26 日星期四市场开盘前发布财报。分析师预测该季度每股收益为 0.4811 美元，收入为 68.334 亿美元。该公司的流动比率为 11.96，债务与股本比率为 0.15。最近的分析师评 | [Link](https://longbridge.com/en/news/276530787.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.