Mainlanders who want to buy a house in Hong Kong must meet the following conditions:

(1) Select a real estate agent and inform them of the relevant requirements. After the real estate agent helps you select properties that meet the requirements, You can make an appointment to come to Hong Kong to view properties.

(2) After selecting the unit you want to purchase, sign a temporary sales contract with the seller through an agent. You also need to pay a temporary deposit (usually 5% of the property price).

(3) Go to the designated law firm to sign the formal sales contract within five working days after signing the preliminary sales contract. At the same time, you need to pay a down payment, (depending on the developer's requirements), usually 10-15 house payment.

(4) Finally, pay the balance of the property price within the specified date after signing the formal sales and purchase contract. (There are generally payment plans of 60 days, 90 days, 180 days, etc. The shorter the payment time, the higher the discount will generally be)

According to the latest news, in the face of recovering housing prices, the Hong Kong SAR government has also In November 2016, the "tightening curse" on home purchases was released: the "ad valorem stamp duty" for non-Hong Kong registered residents purchasing residential properties in Hong Kong was increased from the previous maximum of 8.5 to 15.

According to Hong Kong media reports, on March 23, Mainland UnionPay ordered Hong Kong banking institutions to officially stop mainland customers from purchasing Hong Kong properties through UnionPay cards. According to UnionPay’s acquiring management rules, UnionPay cards issued in the Mainland are strictly prohibited from being used for cross-border property purchases.

Extended information

The process of buying a house is as follows:

1. Start preparing to buy a house

Buying a house must first be based on financial strength and repayment Estimate your actual purchasing power based on your ability, etc., and determine the location, area, price, floor, orientation, etc. of the house based on your work and life needs.

2. Select housing listings

From newspapers, TV, the Internet or related real estate websites, home buyers need to combine the advantages of the three media. Conduct a comprehensive and detailed inspection of the property information.

3. On-the-spot inspection

Before choosing a house, you must have some basic knowledge about the floor area ratio, greening ratio, public spaces, and apartment types.

4. Negotiate and sign the sales contract

Negotiating and signing the sales contract is the most important step in the house purchase process. Both the buyer and the seller must put their rights and obligations into writing , especially key terms such as the area of ??the house, payment method, and property condition.

5. Apply for a loan

Consider the loan amount, term, etc. based on your own financial resources and the various conditions of the house you are purchasing. The intermediary company will assist in handling the loan procedures in accordance with the relevant regulations of the bank.

6. Handle property transfer

The original seller’s name needs to be changed to the name of the new home buyer. All relevant information must be prepared under the guidance of the intermediary company, and then the warrant personnel will assist in the property transfer procedures.

7. House inspection and move-in

During the house inspection and move-in, you must pay off the water, electricity, gas, cable TV fees, heating fees, property fees and other expenses of the purchased house. The buyer and seller and The intermediary company must sign the property delivery note for documentation.

Beijing Business Daily Network--Mainland buyers turn to Hong Kong for real estate speculation as the property market heats up

Baidu Encyclopedia--Buying a House