Investing in Hong Kong real estate: prices, costs and steps before buying

Price per square metre by area, stamp duty, rental yield and the steps of buying property in Hong Kong, based on official 2026 figures.

The Remoters editorial team

Published on

30 November 2023

Updated on

6 October 2026

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Buying a home in Hong Kong is still possible for a foreigner, but the entry ticket is high and the market has just turned upward again. According to the Rating and Valuation Department (RVD), the public service that tracks prices, a 40 to 70 m² apartment in the resale market sold for an average of HK$136,394 per square metre in Kowloon in July 2026, HK$158,072 on Hong Kong Island and HK$109,310 in the New Territories. For 50 m², that comes to about HK$6.8 million in Kowloon, HK$7.9 million on the island and HK$5.5 million in the New Territories.

After a slightly down year in 2025, prices are rising sharply in 2026: the RVD price index rose by nearly 11% year on year in August, according to The Standard. Rents, meanwhile, are hitting records. Before you get started, you therefore need to understand three things: what a square metre is really worth depending on the neighbourhood, what the purchase costs are, and how a transaction handled by licensed estate agents works.

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Hong Kong property prices in 2026

The RVD publishes average prices every month by home size and by major area. They cover resales: developers' sales (new builds) are not included. The areas are saleable areas, smaller than the gross areas sometimes shown in listings.

Average prices per square metre, July 2026 (provisional figures)

Under 40 m²: HK$152,904/m² on Hong Kong Island, HK$129,289 in Kowloon, HK$121,972 in the New Territories.
40 to 70 m²: HK$158,072/m² on the island, HK$136,394 in Kowloon, HK$109,310 in the New Territories.
70 to 100 m²: HK$186,483/m² on the island, HK$175,312 in Kowloon, HK$126,535 in the New Territories.

These averages hide big differences from one building to the next: the age of the building, the floor, the view and the facilities of the development weigh heavily. Use them as an order of magnitude, not as a valuation.

A market on the rise again

The RVD price index (base 100 in 1999) averaged 290.1 over 2025, against 298.7 in 2024. It then climbed throughout 2026: 321.5 in July according to provisional figures, and 320.5 in August, an increase of 10.95% year on year and of 6.98% over the first eight months of the year, The Standard reports. Transactions follow: the RVD, which draws on Land Registry figures, counts 62,832 residential sale contracts in 2025, against 53,099 in 2024, and 45,272 over the first seven months of 2026, of which 71% were resales.

Renting or buying: what yields say

Rents are rising too: the rental index reached 210.3 in August 2026, a record, according to The Standard. For a 40 to 70 m² home, the average rent was HK$418 per square metre per month in Kowloon in July 2026, or about HK$20,900 for 50 m². Set against the purchase price, the gross rental yield calculated by the RVD remains modest: 3.4% for homes under 40 m², 3.0% for those of 40 to 70 m² and 2.7% for those of 70 to 100 m² in July 2026, before costs, taxes and vacancy.

The cost of credit matters as much as the price. According to the Hong Kong Monetary Authority (HKMA), 57% of new mortgages granted in August 2026 were indexed to HIBOR, the local interbank rate, which exposes the borrower to rate changes. Compare offers from several banks and do your sums with a safety margin.

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Where to look and how a purchase works

Choosing the area according to your budget

Hong Kong Island is the most expensive. Mid-Levels attracts expat families for its proximity to Central and the international schools, while Sai Ying Pun and Sheung Wan offer a younger atmosphere, well served by the MTR. In Kowloon, prices per square metre are about 14% lower than on the island for a 40 to 70 m² home. The New Territories (Sha Tin, Tseung Kwan O, Tung Chung) offer larger floor areas for the same budget, at the price of longer commutes to the centre.

Going through a licensed agent

In Hong Kong, estate agency is regulated by the Estate Agents Authority (EAA). Practising without a licence, or employing someone who does not hold one, is a criminal offence. The EAA urges buyers to check the licence of any intermediary on its website, and in July 2026 relaunched an information website for the public, including a section on buying a home.

The steps of the transaction

Define the full budget: price, stamp duty, agent fees, lawyer fees and, if you borrow, down payment and monthly instalments.
Visit and check: consult the Land Registry to confirm the owner's identity and spot any mortgage.
Negotiate, then sign a provisional agreement, together with a first deposit. Have the document reviewed before signing: it is binding.
Sign the formal contract and finalise the transfer with a lawyer (solicitor), who checks the title deeds.
Pay the stamp duty within the deadlines set by the tax authority.

Stamp duty

The buyer pays a proportional duty calculated on the price or the value of the property, whichever is higher. Since 28 February 2024, the two scales applicable to homes have been aligned. For a deed signed since 26 February 2026, the official GovHK site states:

up to HK$4 million: a flat HK$100;
from HK$4.5 to 6 million: 2.25% (with a smoothing scale just above each threshold);
from HK$6.64 to 9 million: 3%;
from HK$10.08 to 20 million: 3.75%;
from HK$21.74 to 100 million: 4.25%;
above about HK$109.6 million: 6.5%, against 4.25% previously.

For a 50 m² apartment in Kowloon at around HK$6.8 million, the stamp duty therefore comes to about HK$204,000. Have your lawyer confirm the calculation, as special rules apply depending on the nature of the deed.

Pitfalls to avoid when buying in Hong Kong

Reasoning in gross area. Always compare prices on saleable area, the only one used in official statistics. A price per square metre that looks low often hides an inflated area.
Dealing with an unlicensed intermediary. Check the agent's licence number with the EAA before any money changes hands. A person who refuses to provide it should raise a red flag.
Paying a deposit without checking. Pay nothing before you have consulted the Land Registry and had the provisional agreement reviewed. A deposit paid on a mortgaged or disputed property can be hard to recover.
Underestimating costs. Add to the price the stamp duty, the agent's commission, lawyer's fees, building management fees and local property taxes (rates). On a property at HK$6.8 million, the stamp duty alone represents about 3% of the price.
Buying to let without doing the maths. With a gross yield of around 3% for an average-sized home, a purchase financed by credit can cost more each month than the rent received, especially if the loan rate follows HIBOR.
Deciding from photos. Orientation, noise, the condition of the common areas and the quality of the building's management only show up on a visit.

Getting support to buy remotely

If you are preparing your project from abroad, it helps to have someone on the ground who works only for you: who compares properties and prices per square metre, visits in your place, checks the documents and warns you before the provisional agreement is signed.

That is the role of a Remoters home finder based in Hong Kong: they search according to your budget and criteria, organise and carry out the visits, prepare the file and coordinate exchanges with the agents and the lawyer through to signing. The first conversation and the quote are free.