<p>分析师表示，对超过 1 亿港元（1280 万美元）超豪华住宅的印花税增加不太可能改变购房行为，因为支撑来自内地买家需求的结构性因素可能会超过交易成本上升的影响。香港政府在周三的年度预算中，将超过 1 亿港元的住宅交易税率从 4.25% 提高至 6.5%，这是由于内地买家对高端物业需求激增。房地产代理表示，交易成本上升 2.25 个百分点不会对内地买家的需求产生显著影响。他们补充说，政府可能希望在豪宅市场进一步升温之前防止过热。中原地产的高级副董事何小彤表示：“政府看到今年大宗交易突然增加，这表明信心正在恢复。他们不希望价格上涨过快。” 根据中原地产的数据，今年内地买家占据了超过 1 亿港元的优质地区交易的约 80%。截至周三，共完成了 48 宗总值 104 亿港元的交易。2025 年总共进行了 262 宗交易，价值 531 亿港元。财政司司长陈茂波在预算演讲中表示，具有 “更强财务能力” 的买家应该 “贡献更多”，预计通过提高印花税每年可增加约 10 亿港元的收入。更广泛的住房市场也开始显示出稳定的迹象。2025 年，已住住宅价格上涨了 3.66%，结束了连续三年的下跌。面积至少为 1076 平方英尺的大型住宅价格去年上涨了 2.93%，尽管仍比 2021 年 10 月的峰值低约 19%。根据中原地产的数据，1 月份记录了 26 宗总值 53 亿港元的交易，交易量和交易价值分别比上个月增长了 70% 和 50%。超出预期的房地产市场势头促使全球投资银行对 2026 年持更乐观的看法，摩根大通和高盛与摩根士丹利一起预测双位数增长。香港仲量联行主席曾俊华表示，1 月份的激增部分反映了几宗超大宗交易，包括太古地产以 26 亿港元将位于深水湾道 6 号的两套三层单位出售给一位来自内地的买家。曾表示：“这次激增与几宗大宗交易有些重合。” 他警告不要将这些数字视为直线趋势。港元的相对疲软使得本地资产对以人民币计价的买家显得更便宜。最近几个月，抵押贷款利率也有所放松，降低了融资成本。更根本的是，曾表示，富有的内地个人越来越将香港房地产视为在国际金融体系中配置资本的一种手段，收益可以在境外以更大的灵活性持有和再部署。“他们显然希望将资产放在一个与国际金融体系相连的市场中，” 他说。最近的交易展示了需求的强劲。Earthstone 以 3.23 亿港元购买了位于尼克森山的一个 4566 平方英尺的公寓，价格比 2016 年的前一次销售价格高出约 3.5%。公司文件显示，北京豪车经销商 FFF-Automobile 的创始人傅松阳是购买公司的董事。在另一宗交易中，Alphabase Investments 以 1.58 亿港元收购了位于中环西的 The Legacy 的一套四卧室单位。土地注册记录显示，收购实体的董事袁宇伟是买家。鉴于这些驱动因素，房地产代理表示，较高的印花税可能影响有限。中原地产的何小彤表示：“即使在 30% 的税率下，内地人也在购买豪宅，” 他指的是 2024 年取消的额外税费。“他们现在肯定会购买。”</p>

盈富基金

南方两倍看多恒指

恒生指数

南方两倍看空恒指

南方一倍看空恒指

安硕恒生指数

南方恒指ETF

<p>香港最近对超豪华住宅的印花税增加预计不会阻止大陆买家，他们在市场中占主导地位。分析师认为，结构性需求因素将超过税率从 4.25% 上调至 6.5% 的影响。政府旨在防止豪华市场过热，因为大陆买家今年占高价值交易的 80%。尽管税率上调，房地产经纪人仍然相信需求将保持强劲，受到市场复苏和有利融资条件的支持</p>

<p>The increase in stamp duty on ultra-luxury homes above HK$100 million (US$12.8 million) is unlikely to change buying behaviour, analysts said, as the structural forces underpinning demand from mainland Chinese buyers could outweigh the impact of the rise in transaction costs. The Hong Kong government, in the annual budget on Wednesday, increased the tax rate on residential transactions above HK$100 million to 6.5 per cent from 4.25 per cent amid a surge in demand for high-end property from mainland buyers. Property agents said the 2.25 percentage-point rise in transaction costs would not significantly impact mainland Chinese demand. They added that the authorities were likely seeking to prevent overheating before momentum accelerates further in the trophy-home segment. “The government saw a sudden increase in large-ticket transactions this year, which signals returning confidence,” said Louis Ho Siu-tong, senior associate director at Centaline Property covering The Peak and the Southern district. “They do not want prices to rise too quickly.” The move came as mainland Chinese purchasers accounted for about 80 per cent of HK$100 million-plus transactions in prime districts this year, according to Centaline. A total of 48 such deals worth HK$10.4 billion were completed year-to-date as of Wednesday, Centaline said. There were a total of 262 transactions worth HK$53.1 billion in 2025. Financial Secretary Paul Chan said in his budget speech that buyers with “greater financial means” should “contribute more”, expecting to raise about HK$1 billion annually from the higher stamp duty. The broader housing market has also started to show signs of stabilisation. Lived-in home prices rose 3.66 per cent in 2025, ending three consecutive years of decline. Prices of larger homes measuring at least 1,076 sq ft gained 2.93 per cent last year, though they remain about 19 per cent below their October 2021 peak. In January, 26 such deals worth HK$5.3 billion were recorded, up 70 per cent in volume and 50 per cent in value from a month earlier, according to Centaline. The stronger-than-expected property market momentum has prompted global investment banks to cluster around a more bullish view for 2026, with JPMorgan and Goldman Sachs joining Morgan Stanley in projecting double-digit gains. Joseph Tsang, chairman of JLL in Hong Kong, said January’s spike partly reflected several ultra-large transactions, including Swire Properties’ HK$2.6 billion sale of two three-storey units at 6 Deep Water Bay Road to a buyer from the mainland. “The surge somewhat coincided with a few big-ticket deals,” Tsang said, cautioning against reading the figures as a straight-line trend. The Hong Kong dollar’s relative weakness has made local assets appear cheaper for yuan-based buyers. Mortgage rates have also eased in recent months, reducing financing costs. More fundamentally, Tsang said, wealthy mainland individuals increasingly viewed Hong Kong property as a means of allocating capital within an internationally connected financial system, where proceeds could be held and redeployed offshore with greater flexibility. “There is a clear desire to place their assets in a market with an internationally connected financial system,” he said. Recent transactions illustrate the strength of demand. Earthstone paid HK$323 million for a 4,566 sq ft flat at Mount Nicholson, about 3.5 per cent higher than its previous sale price in 2016. Company filings showed Fu Songyang, founder of Beijing-based luxury-car dealer FFF-Automobile, was a director of the purchasing company. In another deal, Alphabase Investments acquired a four-bedroom unit at The Legacy in Mid-Levels West for HK$158 million. Land Registry records identified Yuan Yuwei, a director of the acquiring entity, as the buyer. Given these drivers, property agents said the higher stamp duty might have a limited impact. “Mainlanders were buying luxury homes even when there was a 30 per cent tax,” said Centaline’s Ho, referring to the additional duties that were scrapped in 2024. “They will definitely buy now.”</p>
<div class="lb-trans"><p>分析师表示，对超过 1 亿港元（1280 万美元）超豪华住宅的印花税增加不太可能改变购房行为，因为支撑来自内地买家需求的结构性因素可能会超过交易成本上升的影响。香港政府在周三的年度预算中，将超过 1 亿港元的住宅交易税率从 4.25% 提高至 6.5%，这是由于内地买家对高端物业需求激增。房地产代理表示，交易成本上升 2.25 个百分点不会对内地买家的需求产生显著影响。他们补充说，政府可能希望在豪宅市场进一步升温之前防止过热。中原地产的高级副董事何小彤表示：“政府看到今年大宗交易突然增加，这表明信心正在恢复。他们不希望价格上涨过快。” 根据中原地产的数据，今年内地买家占据了超过 1 亿港元的优质地区交易的约 80%。截至周三，共完成了 48 宗总值 104 亿港元的交易。2025 年总共进行了 262 宗交易，价值 531 亿港元。财政司司长陈茂波在预算演讲中表示，具有 “更强财务能力” 的买家应该 “贡献更多”，预计通过提高印花税每年可增加约 10 亿港元的收入。更广泛的住房市场也开始显示出稳定的迹象。2025 年，已住住宅价格上涨了 3.66%，结束了连续三年的下跌。面积至少为 1076 平方英尺的大型住宅价格去年上涨了 2.93%，尽管仍比 2021 年 10 月的峰值低约 19%。根据中原地产的数据，1 月份记录了 26 宗总值 53 亿港元的交易，交易量和交易价值分别比上个月增长了 70% 和 50%。超出预期的房地产市场势头促使全球投资银行对 2026 年持更乐观的看法，摩根大通和高盛与摩根士丹利一起预测双位数增长。香港仲量联行主席曾俊华表示，1 月份的激增部分反映了几宗超大宗交易，包括太古地产以 26 亿港元将位于深水湾道 6 号的两套三层单位出售给一位来自内地的买家。曾表示：“这次激增与几宗大宗交易有些重合。” 他警告不要将这些数字视为直线趋势。港元的相对疲软使得本地资产对以人民币计价的买家显得更便宜。最近几个月，抵押贷款利率也有所放松，降低了融资成本。更根本的是，曾表示，富有的内地个人越来越将香港房地产视为在国际金融体系中配置资本的一种手段，收益可以在境外以更大的灵活性持有和再部署。“他们显然希望将资产放在一个与国际金融体系相连的市场中，” 他说。最近的交易展示了需求的强劲。Earthstone 以 3.23 亿港元购买了位于尼克森山的一个 4566 平方英尺的公寓，价格比 2016 年的前一次销售价格高出约 3.5%。公司文件显示，北京豪车经销商 FFF-Automobile 的创始人傅松阳是购买公司的董事。在另一宗交易中，Alphabase Investments 以 1.58 亿港元收购了位于中环西的 The Legacy 的一套四卧室单位。土地注册记录显示，收购实体的董事袁宇伟是买家。鉴于这些驱动因素，房地产代理表示，较高的印花税可能影响有限。中原地产的何小彤表示：“即使在 30% 的税率下，内地人也在购买豪宅，” 他指的是 2024 年取消的额外税费。“他们现在肯定会购买。”</p>
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香港提高的印花税不会阻止来自中国的豪宅买家