Buying, in six steps
Fast and front-loaded. Most of it happens on two agreements signed about two weeks apart.
What it costs, for example on an $8M flat
| Item | When | Sum |
|---|---|---|
| Initial deposit, 5% | Provisional agreement | $400,000 |
| Further deposit, to 10% | Formal agreement, about 14 days on | $400,000 |
| Stamp duty at 3% | Within 30 days of the first agreement | $240,000 |
| Agent's commission, 1% | Completion | $80,000 |
| Legal fees | Completion | on quotation |
| Balance of the price, on a 70% loan | Completion | $1,600,000 cash + $5,600,000 loan |
| Cash in all, before legal fees | $2,720,000 |
The example takes a 70% loan; the 30% down payment is the sum of the deposits and the cash at completion. The bank lends against its own valuation, so if that comes in under the price, the difference is yours in cash.
Stamp duty
One table for every buyer since February 2024. The rate steps up with the price, and short bridging bands stop a dollar over a line from moving the whole bill.
| Price | Duty |
|---|---|
| Up to $4,000,000 | $100 |
| $4,000,001 – $4,323,780 | $100 + 20% of the amount above $4,000,000 |
| $4,323,781 – $4,500,000 | 1.5% |
| $4,500,001 – $4,935,480 | $67,500 + 10% of the amount above $4,500,000 |
| $4,935,481 – $6,000,000 | 2.25% |
| $6,000,001 – $6,642,860 | $135,000 + 10% of the amount above $6,000,000 |
| $6,642,861 – $9,000,000 | 3% |
| $9,000,001 – $10,080,000 | $270,000 + 10% of the amount above $9,000,000 |
| $10,080,001 – $20,000,000 | 3.75% |
| $20,000,001 – $21,739,120 | $750,000 + 10% of the amount above $20,000,000 |
| $21,739,121 – $100,000,000 | 4.25% |
| $100,000,001 – $109,574,470 | $4,250,000 + 30% of the amount above $100,000,000 |
| $109,574,471 and above | 6.5% |
Try a price
3% of the price
Charged on the price, or the property's value if the Stamp Office puts it higher; on the first agreement signed, within 30 days; the buyer pays by custom. Late stamping costs double the duty within a month, four times within two, ten times after that. Non-residential property has its own scale, the same up to $21.7 million and 4.25% above it. Rates from the Inland Revenue Department, in force since 26 February 2026.
The mortgage
How much a bank may lend, against what income and for how long is set by the Hong Kong Monetary Authority and applied by your bank to your own numbers. Read the rules at source rather than in anyone's summary, ours included.
What to look for: the share of the price a bank may lend and the share of your income the repayments may take, which together set your budget; the cap on a loan's term; and whether mortgage insurance can lift the bank's cap for you, and at what premium.
- The HKMA's measures for property mortgage loans, 16 October 2024: the loan-to-value cap and the debt servicing limit now in force, for every kind of buyer.
- The HKMA on mortgages: the cap on loan tenor, and what to check in a bank's offer before you sign it.
- The Mortgage Insurance Programme: who may borrow beyond the bank's cap, on homes up to what value, and the premium it costs.
Banks offer two kinds of plan: H, priced off HIBOR and capped at the P plan; P, priced off prime. The bank's letter is the only offer that counts, and older buildings usually mean shorter terms.
Try the sums
Six things to know
- No cooling-off. The provisional agreement is the commitment; the deposit is what you lose by changing your mind.
- Valuation, not price. The bank lends against its valuer's figure. Get the approval before the formal agreement, not after.
- Old buildings, short terms. A shorter loan term means a higher monthly repayment.
- A sitting tenant comes with the flat. You become the landlord on completion, on the tenancy's existing terms.
- The ground is leased, and 2047 is settled. Every home stands on government land held on a lease. Leases expiring without a right of renewal are extended by 50 years at no premium under a 2024 law, by notice six years ahead, for an annual government rent of 3% of rateable value. Most of the territory's leases end on 30 June 2047 and will be dealt with in the notice due at the end of 2040. Your solicitor reads the term on the land search.
- Running costs from day one. Management fee monthly, rates and government rent quarterly, all yours from completion.
Sources, read 10 September 2026: the Inland Revenue Department on stamp duty, the Hong Kong Monetary Authority on mortgage measures, the Lands Department on lease extension, and the Estate Agents Authority's consumer guidance. This is a guide, not legal or financial advice; a solicitor is not optional in a Hong Kong purchase.