So what is the acquisition cost when buying an apartment in Hong Kong?

By The Folks @PropTalk - May 13, 2013 1 Comment

The following is provided by IP Global, a firm set up in 2005 to provide clients with an end-to-end real estate investment service.

The data assume a foreign investor's (non permanent resident) costs on a US$ 1 million purchase. All costs are in US$.


Hong Kong
$240,000 or 24% of property value, comprising:

·         $75,000 stamp duty

·         $150,000 special buyers stamp duty

·         $5,000 legal fees

·         $10,000 agent fees


Singapore
$178,639 or 17.9% of property value, comprising:

·         $25,640 stamp duty

·         $150,000 special buyers stamp duty

·         $3,000 legal fees



New York
$44,250 or 4.4% of property value, comprising:

·         $18,250 transfer tax

·         $10,000 mansion tax

·         $16,000 legal fees


London
$43,400 or 4.3% of property value, comprising:

·         $40,000 stamp duty

·         $3,400 legal fees


Kuala Lumpur
$37,607 or 3.8% or property value, comprising:

·         $31,607 stamp duty

·         $6,000 legal fees

So it actually cost more for an investor to buy a property in Singapore than New York and London. And as per always, it is the lawyers in the Big Apple that make the biggest bucks..

Tags:

1 comment to ''So what is the acquisition cost when buying an apartment in Hong Kong?"

ADD COMMENT
  1. Most laws thought out by philosophers in Western world. Pay for intelloectual power?

    ReplyDelete