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Gain an understanding of current policies affecting the property market, so you can plan your budget better before buying a property.

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Gain an understanding of current policies affecting the property market, so you can plan your budget better before buying a property.

Steps to Buying a Home

Follow these 6 steps to complete your home purchase journey.

Steps to Buying a Home - Step 1 - Find out current mortgage policiestab step 2tab step 3tab step 4tab step 5tab step 6

Step 1: Find out about current mortgage policies

Find out current policies affecting the property market, so you can plan your budget better before buying a property.

What is the maximum Loan-To-Value allowed?

1.If you want to borrow up to 70% of the property value :
Types of properties
Property Price
MAXIMUM LOAN-TO-VALUE (LTV)
Self-use Residential Properties Applicable to all property price 70%
Non self-use Residential Properties Applicable to all property price 70%
2. If you want to borrow up to 90% of the property value under the Up to 90% Mortgage Plan:

Existing MIP#

Properties Price
Maximum Loan-To-Value (LTV) for Home Purchase
HK$4,000,000 or below 90%*
HK$4,000,001 – HK$4,499,999 80% – 90%*
(Maximum HK$3,600,000)
HK$4,500,000 – HK$6,000,000 80%

* Mortgage Loan exceeding 80% LTV ratio under Mortgage Insurance Programme is only applicable to regular salaried first time homebuyers (not holding any properties at the time of application) with debt-to-income ratio up to 50% and subject to relevant guidelines and final approval.

#Applicable for both residential properties under construction and completed residential properties and provisional S&P date signed before 22 September 2023.

New Coverage #

Property Value
>HK$4M and ≤HKD10M
>HK$10M and ≤HKD11.25M
>HK$11.25M and ≤HKD15M
>HK$15M and ≤HKD17.15M
>HK$17.15M
Maximum Loan-to-value (LTV) ratio 90%* LTV 80-90%* (Maximum HK$9,000,000) LTV 80% LTV 70-80% cap (Maximum HK$12,000,000) LTV 70%
First-time homebuyer Required Not Required
Regular Income Required Not Required

* Mortgage Loan exceeding 80% LTV ratio under Mortgage Insurance Programme is only applicable to regular salaried first time homebuyers (not holding any properties at the time of application) with debt-to-income ratio up to 50% and subject to relevant guidelines and final approval.

# If the provisional S&P is signed on or after 22 September 2023, both completed residential properties and residential properties under construction are applicable for the MIP under new coverage.

How much government stamp duty do I need to pay on property sales or transfers?

Ad Valorem Stamp Duty (“AVD”)

  1. Applicable to instruments of residential property executed between 5 November 2016 and 24 October 2023: A flat rate of 15%;
  2. Applicable to instruments of residential property executed between 25 October 2023 and 27 February 2024: A flat rate of 7.5%.
  3. Applicable to instruments of residential property executed on or after 28 February 2024: Rates same as those of Scale 2.

*AVD is computed at the applicable rate based on the consideration or value of the property (whichever is higher).

(Source: Inland Revenue Department)

Consideration or value of the property (whichever is higher) (HKD)
Rates at Scale 1 (Part 2) (HKD)
Up to $2,000,000 1.50%
$2,000,001 to $2,176,470 $30,000+20% of the excess over $2,000,000
$2,176,471 to $3,000,000 3.00%
$3,000,001 to $3,290,330 $90,000+20% of the excess over $3,000,000
$3,290,331 to $4,000,000 4.50%
$4,000,001 to $4,428,580 $180,000+20% of the excess over $4,000,000
$4,428,581 to $6,000,000 6.00%
$6,000,001 to $6,720,000 $360,000+20% of the excess over $6,000,000
$6,720,001 to $20,000,000 7.50%
$20,000,001 to $21,739,130 $1,500,000+20% of the excess over $20,000,000
$21,739,131 and above 8.50%
(Source: Inland Revenue Department)

Consideration or value of the property (whichever is higher) (HKD)
Rates at Scale 2 (HKD)
Up to $2,000,000 $100
$2,000,001 to $2,351,760 $100+10% of the excess over $2,000,000
$2,351,761 to $3,000,000 1.50%
$3,000,001 to $3,290,320 $45,000+10% of the excess over $3,000,000
$3,290,321 to $4,000,000 2.25%
$4,000,001 to $4,428,570 $90,000+10% of the excess over $4,000,000
$4,428,571 to $6,000,000 3.00%
$6,000,001 to $6,720,000 $180,000+10% of the excess over $6,000,000
$6,720,001 to $20,000,000 3.75%
$20,000,001 to $21,739,120 $750,000+10% of the excess over $20,000,000
$21,739,121 and above 4.25%
(Source: Inland Revenue Department)

Consideration or value of the property (whichever is higher) (HKD)
Rates at Scale 2 (HKD)
Up to $3,000,000 $100
$3,000,001 to $3,528,240 $100+10% of the excess over $3,000,000
$3,528,241 to $4,500,000 1.50%
$4,500,001 to $4,935,480 $67,500+10% of the excess over $4,500,000
$4,935,481 to $6,000,000 2.25%
$6,000,001 to $6,642,860 $135,000+10% of the excess over $6,000,000
$6,642,861 to $9,000,000 3.00%
$9,000,001 to $10,080,000 $270,000+10% of the excess over $9,000,000
$10,080,001 to $20,000,000 3.75%
$20,000,001 to $21,739,120 $750,000+10% of the excess over $20,000,000
$21,739,121 and above 4.25%
(Source: Inland Revenue Department)
New Residential Stamp Duty (“NRSD”)

Under the 2024 Amendment Ordinance, any instrument executed on or after 28 February 2024 for the sale and purchase or transfer of residential property is no longer subject to New Residential Stamp Duty (“NRSD”).

Buyer’s Stamp Duty (“BSD”)

Under the 2024 Amendment Ordinance, any instrument executed on or after 28 February 2024 for the sale and purchase or transfer of residential property is no longer subject to the Buyer’s Stamp Duty (“BSD”).

Special Stamp Duty (“SSD”)

Under the 2024 Amendment Ordinance, any instrument executed on or after 28 February 2024 for the sale and purchase or transfer of residential property is no longer subject to SSD.

The newly revised SSD is applicable for the following period:

HOLDING PERIOD OF THE PROPERTY BY THE SELLER OR TRANSFER BEFORE DISPOSAL
THE PROPERTY WAS ACQUIRED ON OR AFTER 20 NOVEMBER 2010 AND BEFORE 27 OCTOBER 2012
THE PROPERTY WAS ACQUIRED ON OR AFTER 27 OCTOBER 2012 AND DISPOSED OF BEFORE 25 OCTOBER 2023
THE PROPERTY WAS ACQUIRED ON OR AFTER 27 OCTOBER 2012 AND DISPOSED OF ON OR AFTER 25 OCTOBER 2023 BUT BEFORE 28 FEBRUARY 2024
6 months or less 15% 20%  20%
More than 6 months but for 12 months or less 10% 15% 15%
More than 12 months but for 24 months or less 5% 10% 10%
More than 24 months but for 36 months or less – 10% –

The above-mentioned amendments to the “Stamp Duty Ordinance” are based on the policy address published on 28 February 2024 and the Inland Revenue Department. The revised relevant tax rates have come into effect on the same day.

To borrow or not to borrow? Borrow only if you can repay!