SAVE THOUSANDS OF DOLLARS ON AGENCY FEES

When renting via a real estate agency, the typical fee is one months rent. 
This cost is split 50/50 between the landlord and the tenant.

So for an apartment with a monthly rent of HK$ 30,000 
the landlord and tenant would save HK$ 15,000 each!

Likewise, if the property is sold through a real estate agency then the fee is 1% of the 
overall price. This is also split 50/50 between the buyer and seller.

An apartment for sale at HK$ 12,000,000 
the seller and buyer would save HK$ 60,000 each!

Read the guide below to find out how to cut out the middleman and save on these fees.

  • Rent
  • Sell
Advertise Your Property

Advertise Your Property

Start by creating your Property852 user account and adding your property listing. Advertise directly to thousands of home seekers for as little as HK$ 288.

It takes less than two minutes to complete.

Organise Viewing

Organise Viewing

Once you have been contacted by interested parties, organise with them a mutually convenient time to showcase your property.

Prepare in advance a list of highlights that are good selling points for the property.

The prospective tennants should do a search on the HK Land Registry website in order to confirm that the landlord does actually own the property.

Sign Contracts

Sign Contracts

Download and complete this Residential Tenancy Agreement with the tenant.

Download Tenancy Agreement

Then visit the HK Government website to pay the Stamp Duty online.

Handover Keys

Handover Keys

When all the legalities are completed, then it’s time to hand over the keys.

Advertise Your Property

Advertise Your Property

Start by creating your Property852 user account and adding your property listing. Advertise directly to thousands of home seekers for as little as HK$ 288.

It takes less than two minutes to complete.

Buyer Must be Resident

Buyer Must be Resident

To buy property in Hong Kong, you must be a Hong Kong resident, whether you intend to live in the property or are buying it as an investment.

You will need to show the seller proof of residence.

Organise Viewing

Organise Viewing

Once you have been contacted by interested parties, organise with them a mutually convenient time to showcase your property.

Prepare in advance a list of highlights that are good selling points for the property.

The prospective buyers should do a search on the HK Land Registry website in order to confirm that the seller does actually own the property.

Continue the Process

Continue the Process

This point in the process would be where the agents involvement ended. If the agent has carried out the previous steps for you then you would need to pay the agency commission of 1% of the overall price once the purchase process is complete.

What follows is the process that you will need to follow with or without a real estate agent. Here is the basic guide:

Preliminary Valuation

Preliminary Valuation

It is advisable for the buyer to conduct a valuation of the property through potential mortgagee banks. Not only will this confirm that the valuation of the property is fair, it also estimates the amount of mortgage loan the mortgagee bank is ready to grant to finance the purchase and checks whether the property is a blacklisted property because of being involved in homicide or suicide.

Engage a Lawyer

Engage a Lawyer

The buyer and seller should both instruct a competent and reputable law firm to act for them in the purchase of the property before signing the Provisional Agreement, which is a legally binding contract between the buyer and the seller.

Accepting an Offer

Accepting an Offer

After a price has been agreed, the buyer should sign a binding provisional agreement promising that they will purchase the property, at the agreed price.

Download Provisional Agreement

A non-refundable deposit will also be put down by the buyer at this point. This is typically around 3% to 5% of the purchase price.

Sale and Purchase Agreement

Sale and Purchase Agreement

The buyer should have their lawyer draw up a Sale and Purchase Agreement contract.

The seller should read this thoroughly before both parties sign. 

Further deposit

Further deposit

After signing the Agreement for Sale and Purchase a further deposit must be paid to the seller. This is typically 10% of the purchase price.

Post Sale Agreement Stage

Post Sale Agreement Stage

At this point the buyer and the lawyers will complete a number of other required legalities such as Stamp Duty, registration of the agreement, approval of the seller’s title, mortgage application, application for utilities and finally signing the completion documents.  

Handover Keys

Handover Keys

After 5:00pm on the date of completion, the buyer will be able to collect the keys of the property from the seller.

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