The Hong Kong Legislative Council approved the Stamp Duty (Amendment) Bill 2025 on 7 May 2025 to implement the 2025-26 budget proposal to raise the maximum value of properties chargeable to the HKD 100 stamp duty from HKD 3 million to HKD 4 million, aiming to ease the burden on buyers of properties at lower values.
A Government spokesperson said, “Based on property transaction data of 2024-25, we estimate that the measure will benefit approximately 15% of property transactions, with government revenue reduced by about HKD 400 million annually.”
The legislation will be gazetted on 16 May 2025.
The relevant adjustment, which took effect on 26 February 2025 under the Public Revenue Protection (Stamp Duty) Order 2025, will also be gazetted on the same day and applies to instruments executed on or after 26 February 2025.
Earlier, Hong Kong Financial Secretary Paul Chan delivered the 2025-26 budget on 26 February 2025, which included tax measures such as reducing profits tax, salaries tax, and tax under personal assessment, and increasing the maximum property value chargeable to a HKD 100 stamp duty.