Buying in Hong Kong: the back story

About Buying in Hong Kong: the back story

By the ULTIMATE Property Editorial Team

Editor-in-Chief: Jai Michael

Buying a home in Hong Kong is a regulated, well-documented process. Every estate agent must be licensed by the Estate Agents Authority, title is registered at the Land Registry, and the Rating and Valuation Department publishes the official property statistics. The neighbourhoods people choose range from the Peak and the South Side to Mid-Levels and the new towers of West Kowloon.

Agents and licences

Estate agents in Hong Kong must hold a licence from the Estate Agents Authority (eaa.org.hk), which regulates the trade and handles complaints. Ask to see the agent’s licence number.

Title and searches

The Land Registry, at the Queensway Government Offices, 66 Queensway, keeps the register of land and property and provides land searches (landreg.gov.hk). Your solicitor will search the title before you commit.

Use a licensed agent and an independent solicitor, and read the official figures rather than the headlines.

Stamp duty

Stamp duty on property transfers is charged by the Inland Revenue Department. Rates and rules change from budget to budget, so check the Inland Revenue Department’s own pages, or ask your solicitor, before you budget. We don’t publish rates or prices.

Where people buy

Our property guide compares the Peak (Mount Kellett, Severn Road and Mount Austin Road), the South Side (Repulse Bay, Deep Water Bay and Stanley), Mid-Levels, and West Kowloon. Property is quoted by saleable area, in square feet.

Before you sign

Read the official statistics of the Rating and Valuation Department (rvd.gov.hk) for the market, and take independent legal advice from the start.

Our advice: view at different times of day, and ask about the building’s management fees and maintenance plans.

Opening hours, prices and seasonal openings change, so please check with Buying in Hong Kong: the back story before you go.