Hong Kong Property Buying Guide: Rules for Overseas and Non-Resident Buyers

Any individual or company, resident or not, may buy residential property in Hong Kong. There is no residence requirement, no permit and no quota. A sale registers at the Land Registry, which is public and searchable.

What surprises newcomers is tenure. Almost all land in Hong Kong is owned by the government and granted under leases, historically for 75 or 99 years (with some very long Hong Kong Island leases), and with New Territories leases extended automatically to 2047. Most buyers do not feel this in practice, because renewals have been granted for an annual rent of 3% of rateable value rather than a premium, but you should check the remaining term and any special conditions in the government lease for an older building.

New developments are often sold off-plan by the developer, under a legal framework requiring price lists and sales brochures, and the buyer pays stamp duty on the agreement.

Hong Kong withdrew its demand-side cooling measures in February 2024. That removed the Buyer's Stamp Duty on non-permanent residents and companies, the New Residential Stamp Duty and the Special Stamp Duty on resales within a certain period. Law-firm and property-adviser sources both report the abolition, while some calculator websites still list old rates. A mid-2026 news report included a politician floating a waiver of 'double stamp duty', after which the government said there were no plans to change the system, which also indicates the extra duty is no longer in force.

What remains is standard ad valorem stamp duty, charged at graduated rates that run from a low flat amount on cheaper homes to around 4.25% of price at the top, with a flat band for lower-priced homes. Buyers and sellers share responsibility under the law, though contracts normally put it on the buyer. Always confirm figures on the Inland Revenue Department site before signing, because thresholds are updated in budgets.

1. Appoint an estate agent and a solicitor. Hong Kong solicitors handle conveyancing, and some act for both buyer and seller, though separate representation is wise for large deals.
2. View and offer. Resale markets use a binding provisional agreement.
3. Sign the provisional agreement and pay the initial deposit, typically 3% of price in resale deals.
4. Sign the formal agreement within about 14 days with a further deposit, usually bringing the total to 5% or 10% depending on the contract.
5. Solicitor checks title and the government lease conditions, and checks mortgage and encumbrance records.
6. Pay stamp duty within 30 days of the agreement.
7. Complete around 30 to 60 days after the formal agreement, with the assignment registered at the Land Registry.

Costs are mostly stamp duty and agents, not notaries.

The Hong Kong Monetary Authority sets loan-to-value limits that vary by price band and by whether the borrower's income comes from Hong Kong. Banks usually lend less to buyers whose income is earned abroad, often capped at around half the price and sometimes a little more, plus stress tests on repayments. Rates track the Hong Kong dollar interbank rate and the prime rate, which follows US policy because of the currency peg. Our Hong Kong financing page covers current practice, and the mortgage calculator is useful for stress-testing rate changes.

Many overseas buyers pay cash from savings or from the sale of a home elsewhere, since approvals can be slow and require account opening in person at some banks.

Buying a Hong Kong home does not confer residence. The current investment migration scheme, the Capital Investment Entrant Scheme, excludes direct purchases of residential property from qualifying assets, so look at it only as a financial investments route. Work-based schemes such as the Top Talent Pass are separate.

Rental yields are typically low compared with prices, and landlords must register tenancies with the IRD. Risks include interest rate moves, small flat sizes, building management disputes and a market that can fall sharply, as it did in 2021 to 2024 before stabilising. For context see our Hong Kong market analysis. If you need a lower entry point, check the cheap and under-100k pages, but note few homes there are priced that low.

• Following an article that still lists the old 15% buyer's duty.
• Forgetting that the saleable area advertised excludes balconies and bay windows in different ways.
• Skipping a building inspection for older tong lau or village houses.
• Not checking the remaining government lease term.

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