Story perspectives

Direct Bank Transfers Revolutionize Hong Kong Property Sales

2/5/2026

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Summary

Story summary

On February 5, 2026, the Hong Kong Monetary Authority announced that most second-hand residential property transactions will settle via direct bank transfers, starting February 28 under the Payment Arrangements for Property Transactions scheme.
The scheme provides a faster, safer alternative to cheque payments by enabling buyers to transfer mortgage funds directly to sellers.
It will cover nearly 90% of resale transactions and ensures sellers receive funds on completion without fees.

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Story summary

On February 5, 2026, the Hong Kong Monetary Authority announced that most second-hand residential property transactions will settle via direct bank transfers, starting February 28 under the Payment Arrangements for Property Transactions scheme.
The scheme provides a faster, safer alternative to cheque payments by enabling buyers to transfer mortgage funds directly to sellers.
It will cover nearly 90% of resale transactions and ensures sellers receive funds on completion without fees.