Hong Kong Housing
- 18 Jan 2023
- Living & Tax
Whether you want to live in a penthouse with commanding views over Victoria Harbour or prefer the peace of an outlying island like Discovery Bay or Lamma, there are plenty of options for talent moving to Hong Kong. Those moving on their own may enjoy the livelier neighbourhoods like Mid-Levels and Wan Chai, while families may prefer the quieter communities like Sai Kung or Lantau Island.
Living in such a compact city means you can get the option to walk to work or your child’s school, and even if you prefer to locate yourself out of the hustle-bustle, the city’s world-class transport system means you’re never too far away from anything. Mostly housed in tower blocks, Hong Kong’s private housing complexes usually offer an impressive array of facilities, including swimming pools, bowling alleys, gyms, and saunas, while serviced apartments offer housekeeping and concierge services.
Interested in buying property? Permanent residents purchasing their first and only Hong Kong property can borrow up to 90% of the purchase price, with stamp duty typically set at 4.25%. Non-residents face a higher stamp duty of 30%. However, it's important to note that there is a stamp duty suspension for residential property acquisitions currently. You would only be obligated to pay the relevant amount if, for some reason, you cannot obtain Hong Kong Permanent Resident status.
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