GLONGHUI, Oct. 26 | According to a research report published by Citigroup, the latest policy report suggests that stamp duty on the price of a second residential property for Hong Kong permanent residents was reduced from 15% to 7.5%, buyer stamp duty was reduced from 15% to 7.5%, additional stamp duty (ban period) was reduced from 3 to 2 years, etc. According to the bank, the reduction in buyers' stamp duty was surprising, while other adjustments were in line with expectations. However, since interest rates are still high, the bank believes that the relaxation measures will not reverse the downward trend in property prices, continue to reduce holdings of developers, and is optimistic about low-debt real estate agents that do not rely on real estate sales and have small capital expenditure plans, such as Lingzhan and Wharf Real Estate. The bank said that lowering the stamp duty on the price of the second set of residential property prices for Hong Kong permanent residents is not attractive enough to shift investors from risk-free time deposits or investments to the real estate market. It is expected that the overall transaction volume may rise slightly within 1 to 2 weeks, but eventually it will return to a low level again. The bank believes it will have a positive impact on demand by suspending the “exemption first, then levy later” measures for professional buyers who are not eligible to purchase a first home for non-Hong Kong permanent residents, but this demand will take time to release.