Hong Kong Offers Stamp Duty Relief, Grants for First-Time Buyers Now

Hong Kong first-time buyers can claim stamp duty concessions and state grants from 1 August 2026 under the latest round of relief measures announced by the Inland Revenue Department.

The concessions arrive as transaction volumes in the mass residential segment remain subdued, with many young households priced out of districts closer to employment centres. Median prices sit between HKD 8 million and HKD 10 million, pushing buyers toward the New Territories where entry-level units start lower.

Stamp duty relief and grant details

Buyers who have never owned property in Hong Kong qualify for a full waiver of Buyer’s Stamp Duty on the first HKD 6 million of the purchase price when acquiring a residential flat under HKD 10 million. An additional one-off grant of HKD 300,000 is available through the Hong Kong Housing Authority for eligible applicants who secure units in the New Territories. The measures apply to transactions completed by 31 December 2026.

Properties in Yuen Long and Tai Po have seen the strongest interest from first-time applicants since the concessions were previewed in May. Both districts offer new private developments with prices per square foot around HKD 12,000, well below Kowloon averages. The Housing Authority has already received more than 4,200 preliminary applications for the grant since the portal opened on 15 June.

Market data and next steps

Official figures released on 8 July show private residential transactions in the first half of 2026 totalled 28,400 units, down 14 percent from the same period last year. Average prices in the New Territories fell 6.2 percent over the same six months, widening the gap with Kowloon where the decline was 3.1 percent.

Prospective buyers should check eligibility on the Inland Revenue Department website before 15 July to book an appointment at the Stamp Office in Wan Chai. Documents required include proof of Hong Kong permanent residency and a mortgage pre-approval letter from one of the 12 participating banks. Those who miss the August start date can still apply for the grant until the end of the year but will face standard stamp duty rates on any purchase completed after 31 December.