Buying & selling a home in Hong Kong

• Registered owner and any undischarged mortgage (Land Registry IRIS).
• Government orders, charging orders, caveats or lawsuits on the title.
• Existing tenancy (short tenancies may not appear on the search – ask). Lease stamp duty and tenancy charges are on our Landlord & Tenant guide only.
• Saleable area, year built, use restriction, and any known UBW / alteration issues.
• Who pays stamp duty, agency commission and legal costs (write it in the PASP).

Yes. Despite the word “provisional”, a signed PASP is normally a legally binding contract under the Conveyancing and Property Ordinance. If the formal agreement is never signed, the PASP still governs – or supports a claim for damages.

No statutory cooling-off for ordinary second-hand sales. Some PASPs include a short contractual “escape clause” (buyer forfeits the initial deposit; seller may repay double deposit). Only rely on it if it is clearly written and you act within the stated time.

• Sole ownership — one owner.
• Joint tenancy — equal interests; survivor takes the whole (right of survivorship).
• Tenancy-in-common — fixed shares; a deceased owner’s share passes under their will or intestacy.

Ask your solicitor which fits if you buy with someone else.

Provide property information (Form 1 / Property Information Form), arrange viewings and offers, and act honestly in your interest. Dual agency is allowed only if both sides know and agree.

For residential property, yes – before the agent can act (Estate Agents Ordinance). Form 3 is for sellers; Form 4 for buyers. Keep your signed copy.

For secondary residential sales in Hong Kong, the standard rate is 1% of the purchase price from the vendor and 1% from the purchaser. Homewise Realty 康域置業 charges these standard rates. Commission is set out in your Form 3 / Form 4.

From 28 February 2024, the Government cancelled the residential demand-side measures: no Buyer’s Stamp Duty (BSD), no Special Stamp Duty (SSD), and no New Residential / “doubled” AVD for new deals. Older instruments signed before that date can still attract the old duties – check the PASP date.

Buyer and seller (and anyone who uses the instrument) are jointly and severally liable under the Stamp Duty Ordinance. In practice the buyer usually pays, if the agreement says so.

Duty is on the higher of consideration and market value. Round duty up to the nearest HK$1.

On the agreement (PASP and/or formal ASP). If the formal ASP is signed within 14 days of the PASP, often only the formal ASP needs stamping. After a stamped agreement, the assignment usually attracts a fixed HK$100.

AVD is also charged on the agreement for sale (not only on completion). From 26 February 2026, non-residential instruments use Scale 3 (same lower bands as above; top rate 4.25% – no 6.5% band).

Each party appoints a solicitor. The vendor’s solicitor drafts the formal ASP; the purchaser’s solicitor reviews it. On signing, the purchaser usually pays the further deposit. Title deeds are inspected; the purchaser’s solicitor raises requisitions.

Often yes, via a nomination before the formal ASP – your solicitor will prepare it. Adding someone who is not your spouse, parent or child can trigger extra stamp duty. Ask before you change names.

From 16 October 2024, the HKMA standardised the maximum loan-to-value (LTV) at 70% and the debt servicing ratio (DSR) at 50% for residential and non-residential properties (with bank underwriting still applying). Mortgage insurance may allow a higher LTV for eligible buyers – check with the bank.

Register the agreement to protect priority. Your solicitor usually handles this.

Depends on the agreement. Typical PASP pattern: buyer defaults → loses initial deposit; seller defaults → may repay double the initial deposit if that is written in. After the formal ASP, either side may claim damages or, in some cases, specific performance. Time clauses are often strict.

Sales are regulated (Consent / Non-Consent schemes and the Residential Properties (First-hand Sales) Ordinance). Read the sales brochure, price list and ASP carefully. Confirmor resales of uncompleted flats are heavily restricted. Get independent legal advice.

Alienation restrictions, premium payment and eligibility rules apply. Check the latest Housing Authority / HA conditions for your flat before you list or offer.

The DMC binds all owners: use restrictions, common parts, management fees and pets rules. An Owners’ Corporation (if formed) oversees building management under the Building Management Ordinance.