Stamp duty when buying: AVD only now
From late February 2024, Hong Kong abolished several residential stamp duties. Residential purchases now pay Ad Valorem Duty (AVD) only.
Whether you are a first-time buyer, trading up or investing, the AVD rate for the same price is the same. You no longer need to work out your 'status' before calculating.
Steps: price → band → duty
Step one: confirm the consideration (or market value, whichever is higher). Step two: find the price band in the IRD AVD table. Step three: apply the formula, or just use the stamp duty calculator.
The bands are progressive with marginal relief, so crossing a band does not cause a large jump. The calculator applies this automatically.
A worked example
Suppose you buy a residential property for HK$8M. Under the bands effective 26 Feb 2026, the AVD works out to roughly HK$300k (final figure per IRD).
Enter the price into the stamp duty calculator and it shows the duty, the band and the effective rate instantly — faster and less error-prone than the table.
First-time vs non-first-time (now)
As noted, AVD no longer differs by first-time status. What people call 'first-time discount' usually refers to high-ratio mortgage insurance thresholds, not stamp duty.
If you hear 'first-time buyer stamp duty', it is likely outdated or confusing tax with mortgage insurance. Check the latest bands with IRD and your solicitor.
Other upfront costs beyond duty
Stamp duty is only part of the bill. Legal fees, agent commission (split between buyer and seller) and possibly mortgage insurance make up the rest.
Use the total buying cost calculator to list price, duty, commission and misc fees together, so you don't underestimate the cash needed.