Regulating the Sale of First-hand Private Residential Properties
On 29 June 2018, the Chief Executive proposed the introduction of “special rates” on vacant first-hand private residential units with a view to encouraging a more timely supply of firsthand private residential units on the market. The Government would amend the Rating Ordinance (Cap 116) to require developers of first-hand private residential units with occupation permits issued for 12 months or more to furnish annual returns to it on their statuses.

Message from GPD Chairman – March 2019 (whole message)