Hong Kong home sales surge among lower-priced units thanks to stamp-duty adjustment
Sales of homes priced between HK$3 million (US$382,000) and HK$4 million jump 73 per cent year on year after change, government says
Hong Kong’s residential property market recovery is gaining traction, with transactions of lower-priced homes rising sharply on the back of improved sentiment and recent government tax relief measures.
From March to May, 3,780 residential properties priced between HK$3 million (US$382,000) and HK$4 million were sold, a 73 per cent increase from the same period last year, according to data disclosed by the government on Wednesday.
The surge in activity came after the government adjusted stamp duty bands on February 26 to ease the burden on buyers of lower-valued properties. The maximum value of properties eligible for a flat HK$100 stamp duty was raised to HK$4 million from HK$3 million, helping buyers save up to HK$59,000.
“The fact that positive performance has continued this year, despite the absence of significant stimulus, indicates a more resilient and fundamentally sound housing market,” said Eddie Kwok, executive director at CBRE, in a research note on Thursday.
In the first half of 2025, residential transactions rose 4.2 per cent year on year to 28,947 units, with about two-thirds coming from the secondary market, according to data compiled by property consultancy CBRE.