Hong Kong tax on vacant apartments unlikely to lower property prices

Hong Kong's plans to impose a tax on new, unsold apartments are unlikely to have much of an effect on the city's housing market. The rate was announced as part of a broader effort to boost supply in the world's most inaccessible real estate market. But analysts at Goldman Sachs, Morgan Stanley and JPMorgan Chase say the new tax will not stop the price increase.Cooling the housing boom in Hong Ko...