First Home Buyer Guide in Hong Kong 2026

Your First Home in Hong Kong — Where to Start

Buying your first home in Hong Kong is one of the biggest financial decisions you will make. The process can feel overwhelming, but breaking it down into clear steps makes it manageable. This guide covers everything from saving your deposit to collecting the keys.

Saving for Your Deposit

Most lenders in Hong Kong require a deposit of 10-50% of the property price. The more you save, the better your loan terms and the less you pay in additional costs.

Build savings consistently — banks assess your savings pattern over 6+ months. Consider government-subsidised housing schemes if eligible. Maintain low credit card utilisation and clear outstanding debts to improve your TU credit score

Government Support for First-Time Buyers

The Home Ownership Scheme (HOS) sells flats at 30-40% below market value. The Mortgage Insurance Programme (MIP) enables up to 90% LTV. The White Form Secondary Market Scheme allows buying HOS resale flats. CPF Housing Grants equivalent does not exist, but these schemes represent significant government support

Check our government grants guide for the full list of current programmes and eligibility requirements.

Getting Pre-Approved for a Mortgage

Pre-approval tells you exactly how much you can borrow and shows sellers you are a serious buyer. In Hong Kong, the process works as follows.

Apply to 3-4 banks simultaneously — Hong Kong banks actively compete with rate offers and cash rebates. Get pre-approval before property hunting. Consider a mortgage broker like mReferral for access to the best current deals

Use our mortgage calculator to model different scenarios before applying. Read our mortgage types guide to understand which loan product suits your situation.

Understanding the Full Cost of Buying

The purchase price is just the beginning. Budget for additional costs that can add significantly to your total outlay.

Ad Valorem Stamp Duty at Scale 2 rates for first-time permanent residents: HK$100 to 4. Read our buying costs guide for a complete breakdown of every expense.

Common First-Time Buyer Mistakes

Not applying to multiple banks simultaneously (missing better cash rebates), underestimating ABSD stamp duty if you are not a first-time buyer, rushing into off-plan purchases without understanding completion risk, and not checking the 49% foreign quota for buildings if applicable

Avoid these pitfalls by taking your time, doing thorough research, and leaning on qualified professionals throughout the process. Our property inspection checklist covers what to check before committing.

Your Step-by-Step Timeline

The typical first home purchase follows these stages: establish your budget and savings target, explore government support options, get pre-approved for financing, search for the right property, make an offer, complete legal due diligence and inspections, and finalise settlement.

Our property buying guide walks through each stage in detail, and our mortgage guide covers everything about financing.

Next Steps

Ready to start? Use our mortgage calculator to see what you can afford, browse Hong Kong FAQs for quick answers, or explore our full property buying guide.