Hong Kong's Legislative Council on Wednesday approved the Stamp Duty (Amendment) Bill 2025, which implements the adjustment of the maximum value of properties chargeable to the HK$100 stamp duty from HK$3 million to HK$4 million.

The special administrative region government has welcomed the passage of the bill, which will be published in the Government Gazette on May 16.

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Proposed in the 2025-26 Budget, the adjustment aims to ease the burden on buyers of properties at lower values.

“Based on property transaction data of 2024-25, we estimate that the measure will benefit approximately 15 per cent of property transactions, with government revenue reduced by about HK$400 million annually," said a government spokesperson.

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The relevant adjustment, which took effect at 11 am on Feb 26 this year under the Public Revenue Protection (Stamp Duty) Order 2025 gazetted on the same day, applies to instruments executed on or after Feb 26, 2025.