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

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..