How much should you budget for fees?
On a HK$5.8m flat as a first-time buyer with a 70% mortgage: beyond the HK$1.74m deposit, expect roughly HK$210,000 to HK$230,000 of fees before renovation. The two largest items are stamp duty of about HK$130,500 and agency commission of about HK$58,000.
A workable rule of thumb: fees come to 3.5%–4% of the purchase price, excluding renovation and mortgage insurance. Budget 4% and you will not be caught short.
Full fee checklist (HK$5.8m flat)
Typical case: first-time buyer, 70% mortgage, second-hand flat bought through an agency.
Sources: ad valorem stamp duty follows the current scale (Buyer's Stamp Duty and Special Stamp Duty were abolished in February 2024) — see our stamp duty guide. Legal, survey, agency and mortgage insurance ranges are market observations as at August 2026; firms differ, so rely on written quotes.
| Item | Paid to | Amount (example: HK$5.8m flat) | When |
|---|---|---|---|
| Initial deposit | Seller | 3–5% (about HK$174,000–290,000) | On signing the provisional agreement |
| Further deposit | Seller | Topping up to about 10% | On the formal agreement, usually within 14 days |
| Ad valorem stamp duty | Inland Revenue | 2.25% ≈ HK$130,500 | Within 30 days of the provisional agreement |
| Buyer's solicitor fee | Law firm | HK$8,000–15,000 | Before completion |
| Mortgage-side legal fee | Law firm | HK$3,000–6,000 | Before completion |
| Title search, registration and disbursements | Land Registry and others | HK$1,000–2,500 | Before completion |
| Estate agency commission | Agency | About 1% ≈ HK$58,000 | Usually on the formal agreement |
| Building / window survey | Surveyor | HK$3,000–8,000 | Ideally before you sign |
| Mortgage insurance premium (high LTV) | Insurer | About 1.5–5% of the loan, by LTV and term | On drawdown; can be instalment-paid |
| Fire insurance | Insurer | HK$1,000–2,500 a year | Before completion |
| Renovation, moving, sundries | Various | From HK$50,000, case by case | After completion |
Cash-flow timeline: when each payment is due
Day 0, provisional agreement: initial deposit of 3–5%, payable that day, usually by cashier's order or held by the solicitor.
Within 14 days, formal agreement: further deposit topping up to about 10%, and the agency commission.
Within 30 days: ad valorem stamp duty. Note the clock runs from the provisional agreement, not completion.
One to two weeks before completion: legal fees, the mortgage-side legal fee, title-search disbursements, fire insurance, and mortgage insurance if applicable.
Completion day: the balance is paid from the mortgage advance and your own funds, and the keys change hands.
Stamp duty is where people get caught: it falls due before completion, while the mortgage has not been drawn — so it must come from your own cash, not the loan.
Which fees you can actually negotiate
Legal fees: quotes vary by up to two-fold. Get three written quotes and confirm whether title search, registration, disbursements and acting for the bank are included.
Agency commission: 1% is market convention, and there is room to discuss on larger transactions or where the agency acts for both sides.
Survey: choose a basic or full inspection to suit. On older buildings and flats sold with recent renovation, this money is well spent.
Mortgage insurance: premiums, cash rebates and rates differ by bank and plan. Compare at least three, counting the premium, the rebate and the rate together.
But the item that dwarfs all of these is the purchase price. Negotiate HK$200,000 off and you also save about HK$4,500 of stamp duty and HK$2,000 of commission — the fees fall with the price.
Three budgeting mistakes
1. Treating 30% of the price as the total cash requirement. Add roughly 4% of fees — about HK$230,000 more on a HK$5.8m flat.
2. Assuming stamp duty can be borrowed. It cannot: the mortgage covers the price only.
3. Forgetting renovation and the overlap. Basic refurbishment of an older flat runs HK$800–1,500 per square foot, plus moving and one or two months of paying rent and mortgage at once.
FAQ
What percentage of the price are buying fees in Hong Kong?+
About 3.5%–4% before renovation, for a first-time buyer with a 70% mortgage buying a second-hand flat through an agency. On HK$5.8m that is roughly HK$210,000–230,000, dominated by stamp duty (about HK$130,500) and commission (about HK$58,000).
How much are solicitor's fees in 2026?+
Typically HK$8,000–15,000 for the buyer's side on a second-hand flat, plus HK$3,000–6,000 for the mortgage documentation and HK$1,000–2,500 of title-search, registration and disbursement costs. Always ask whether the quote is all-inclusive.
When is stamp duty payable?+
Within 30 days of signing the provisional agreement, normally handled by your solicitor. That is earlier than completion, and it cannot be funded by the mortgage.
Is agency commission always 1%?+
1% is market convention, not a statutory rate. The commission and its basis should be set out in the agency agreement, and there is room to discuss on larger deals.
What does mortgage insurance cost on a high-LTV loan?+
Roughly 1.5% to 5% of the loan depending on the loan-to-value ratio, term and plan, payable upfront or by instalments. Some banks' cash rebates offset part of it, so compare premium, rebate and interest rate together.