Hong Kong - the dynamic and advanced intersection of Asia being as well gate to continental China. Here more than one and a half centuries here connect cultures of the West and the East. Hong Kong always lived under the special laws, without noticing surprising paradoxes arising thus. Hong Kong is a business center which, being long time the British colony, showed to the whole world supernatural achievements in the field of finance and trade, but at the same time its roots leave deep into century Chinese traditions.

The island Gongkong on which demand for real estate in Hong Kong in recent years is observed is separated from continental part of Hong Kong of one of the most beautiful in the world of harbors - Victoria-harbor. Here City skyscrapers grew, the exhibition centers, quarters of restaurants of Soho, floating restaurants in Aberdeen, the largest in Asia the entertainment complex including the Oceanarium, Sea World park, historical park "Average Kingdom", a hippodrome here are constructed, but the main sight of the island is the peak Victoria where from height of bird's flight the fascinating view of harbor Victoria, Kowloon and City opens.

The quantity of real estate in Hong Kong, constructed last year, decreased by 33% in comparison with statistics of 2004, and made 17320 apartments. According to Department to Statistics of Hong Kong, this figure is the lowest indicator since 1997. In 1997 in Hong Kong 18200 inhabited apartments were constructed. The department of Statistics noted also that for the end of 2005 in the country the total of not sold apartments new buildings made 63540 units.

In 2005 the Government of Hong Kong published the preliminary project of reform of a real estate tax in Hong Kong which finally can lead to tax cancellation.

Among planned measures release of the investors being in Hong Kong, from payment of taxes on certain types of assets is supposed, or completely to cancel a tax.

At the heart of a real estate tax in Hong Kong the territorial principle lies, that is the tax is raised only from the property located in Hong Kong.

The tax is raised on progressive rates: the real estate tax in Hong Kong isn't paid if the cost of the property located in Hong Kong, is less than HK$7.5 million (US$962,000), and the maximum rate of 15% is raised if the cost of assets exceeds HK$10.5 million (US$1,350,000. ) The rate of 10% is raised from the property which cost makes HK$9-HK$10.5 million. The annual income gained by the government from the property tax, makes about HK$1.5 billion.