Since 28 Feb 2024 the stamp-duty surcharges for non-permanent residents were abolished â everyone now pays the same rates. What really separates buyers is the mortgage loan ratio and how you bring your money in. This page explains all three.
Start readingThe old advice "non-PRs pay an extra 15% buyer's stamp duty" is outdated â BSD, SSD and NRSD were all abolished on 28 Feb 2024
| Residential price | Stamp duty (Ad valorem ¡ Scale 2) |
|---|---|
| $4M or below | $100 (flat) |
| ~$4.5M â $4.94M | 1.5% |
| ~$4.94M â $6M | 2.25% |
| $6M â $9M | 3.00% |
| ~$10.08M â $20M | 3.75% |
| $21.74M â $100M | 4.25% |
| Above $100M | 6.5% (from 26 Feb 2026) |
Quick maths: $8M â ~$240k ď˝ $10M â ~$375k ď˝ $20M â $750k. The short-term resale penalty (SSD) is gone â you can resell any time after purchase.
Tax has been levelled, leverage has not â non-PR + mainland income is where the real dividing line sits
Owner-occupied standard mortgages cap around 70%. Non-PRs relying on mainland income often get 50â60% in practice â budget a bigger down payment.
Mainland income is typically counted at a 0.7â0.9 factor; bonuses and allowances need tax records to count in full. Chinese banks are more comfortable with mainland bank statements.
The official stress test is gone, but banks still review affordability: owner-occupied repayments generally capped at 50% of monthly income, investment property at 40%.
Max 25â30 years, bound by the "75 minus age" rule (age + loan tenor ⤠75).
This is not a price problem â it's a red line
Your individual annual FX quota of USD 50,000 cannot be declared as "overseas property purchase"; splitting the transfer among multiple people is a violation â banks' risk controls will flag and report it.
Use legitimate funds in Hong Kong (local salary, business retained earnings); gifts from relatives must leave a paper trail proving lawful origin; Cross-boundary Wealth Management Connect cannot be used to buy property.
Buyers with non-local income sources will be asked to sign a source-of-funds declaration. Failing to prove lawful overseas origin can affect your accounts and credit services.
After purchase there are yearly costs: rates, government rent, management fees, maintenance. Renting out means property tax (15% of net assessable value). Run the numbers before you buy.
Standard seven steps ¡ you can stop at any step before signing
Down payment + stamp duty + agent and legal fees + renovation buffer, all at once â don't discover a gap after your mortgage falls short.
See 5â8 units in the same district; check bank valuations, building age, and records of unfortunate events or water seepage.
Pay the small deposit (typically 3â5% of price), instruct a licensed estate agent â prevailing commission around 1%.
Apply to several banks in parallel; non-PRs should prioritise pre-approval to lock in the ratio.
Handled by your solicitor; pay stamp duty within 30 days â late payment is heavily penalised.
Inspection, final payment, stamping, title transfer â all through the solicitor.
Set up utilities, register rates, buy home insurance. If renting it out, remember to file taxes.
Tax, valuation and rules â always check official sources
Stamp duty rates, property valuations, mortgage rules and licensed estate agent info are all free to look up on official websites.
External links are for reference only; this platform is not affiliated with these bodies. Tax rates and LTV ratios have changed several times in recent years â always refer to the latest official announcements.
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