Property transactions in Hong Kong do not usually fail on legal complexity. They fail on dates — a stamp duty deadline missed by two days, or an ASP window that expired over a holiday cluster nobody checked. In first-hand residential sales, a late ASP execution terminates the PASP and forfeits the preliminary deposit. No extensions, no discretion.
This guide maps the date-sensitive milestones, the counting method behind each one, and the holiday clusters that turn "normal" timetables into traps.
The deadline map
| Milestone | Typical timing | Count method | Main risk |
|---|---|---|---|
| PASP to ASP | 5 working days (first-hand) or about 14 days (resale practice) | Working days or market practice | Missing formal execution window |
| Stamp duty | 30 days from earliest agreement | Calendar days | Automatic late penalties |
| Requisitions on title | Often 7 working days after papers received | Working days | Issues raised too late |
| Completion | Commonly about 60 days from ASP | Contract-specific | Funding, logistics, holiday compression |
| Land Registry registration | About 14 working days after lodgement | Working days | Post-completion admin lag |
PASP to ASP: the window that catches people out
The timeline from PASP to formal ASP depends on whether you are buying new-build or resale.
First-hand residential properties (new developments)
Under the Residential Properties (First-hand Sales) Ordinance:
- Purchaser must execute the ASP within 5 working days of signing the PASP
- If the purchaser signs within 5 working days, the vendor must execute within 8 working days
- If the purchaser does not execute within 5 working days, the PASP is terminated and the preliminary deposit (typically 5%) is forfeited
These deadlines are strict and statutory.
Secondary market (resale) properties
- Common market practice is about 14 days to sign the formal ASP after the PASP
- If the ASP is delayed beyond this typical window, solicitors often need to stamp and register the PASP as well (stamping fee HK$100)
- The 14-day period is market convention, not a statutory hard limit — the actual timing depends on the agreement between the parties and whether additional stamping requirements are triggered
Why the first deadline kills the most deals
The PASP-to-ASP phase is where matters go off track because everything happens at once: mortgage approvals, document collection, solicitor coordination, and developer signing windows — all compressed into a short window that holidays can hollow out.
Sign a PASP near Chinese New Year, Easter, or during typhoon season, and the practical number of usable business days can be far less than the headline number suggests. Five working days sounds comfortable until three of them vanish into a holiday cluster.
Stamp duty deadline: 30 calendar days
Under the Stamp Duty Ordinance (Cap. 117), the agreement for sale and purchase must be stamped within 30 days of execution of the earliest agreement (typically the PASP).
Key facts:
- The 30 days are calendar days, not working days
- Weekends and General Holidays are included in the count
- If the last day of the stamping period falls on a Severe Weather Day (T8+ or Black Rainstorm Warning), the deadline extends to the next day that is not a public holiday or Severe Weather Day. Severe weather on earlier days does not extend the deadline.
Late stamping penalties
| Delay | Penalty |
|---|---|
| Up to 1 month late | 2x the stamp duty |
| 1–2 months late | 4x the stamp duty |
| Over 2 months late | 10x the stamp duty |
For voluntary disclosure where the delay was not deliberate, a reduced penalty formula applies: 14% × stamp duty × (days delayed / 365), with a minimum of HK$500.
Current AVD rates (post-February 2024)
Since 28 February 2024, the stamp duty regime has been significantly simplified. Buyer's Stamp Duty (BSD), Special Stamp Duty (SSD), and New Residential Stamp Duty (NRSD) have all been abolished.
Residential AVD is now charged at rates aligned to the Scale 2 rate table, which has 11 bands with transitional marginal rates. The main tiers are HK$100 (up to HK$4M), 1.5%, 2.25%, 3%, 3.75%, and 4.25%, with marginal bands between them. For the full table, see the IRD stamp duty rates page or our stamp duty deadlines article.
What "next week" actually looks like near Easter 2026
A matter is signed just before the April Easter/Ching Ming cluster. The contract uses a working-day milestone for the next step. The headline period sounds manageable — but the block from 3 to 7 April removes five consecutive days because:
- Good Friday is a General Holiday, and both Monday 6 April (Day following Ching Ming Festival) and Tuesday 7 April (Day following Easter Monday) are also General Holidays,
- Saturday and Sunday sit inside the same block, and
- lender, solicitor, and registry availability often compresses around the same dates.
A file that looks comfortably on time on paper can already be operationally late once the holiday block is accounted for.
Requisitions on title
Under common contractual practice (e.g. the Law Society Conditions of Sale), the purchaser's solicitor typically has 7 working days after receipt of title deeds and documents to raise requisitions on title. This is a market convention, not a statutory requirement — the actual period depends on the terms of the particular contract.
Important: requisitions can be raised out of time if they go to the root of the contract or concern matters not apparent from the documents provided.
Completion period
- Standard: approximately 60 days (2 months) from signing the formal ASP
- Typical range: 45–90 days, negotiable between parties
- The Law Society Conditions of Sale 2012 govern most transactions unless varied
Late completion
Under the Law Society Conditions of Sale 2012, if completion is delayed by one party's default, the other party is entitled to Late Completion Interest at the contractual default rate on the relevant sum, calculated daily. The applicable rate is stated in the Conditions and is typically set high enough to discourage delay.
Five questions before you commit to a date
- Is the next step counted in calendar days or working days?
- What exactly counts as a non-working day under the contract?
- Does the deadline roll forward if it lands on a non-working day?
- Are there external dependencies — lender drawdown cut-offs, stamp office processing, registration windows?
- Does the period overlap a holiday cluster, typhoon season, or internal office closure?
Most conveyancing deadline disputes are not about law. They come from failing to align everyone on these assumptions before the clock starts running.
Land Registry registration
The Land Registry pledges to complete registration within 14 working days of lodgement.
Milestone checklist
For each milestone in a property transaction, confirm:
- Is the deadline counted in calendar days or working days?
- What counts as a non-working day? (Saturdays, General Holidays, typhoon days?)
- Is there a rollover rule if the deadline falls on a non-working day?
- Who owns the deadline — purchaser's solicitor, vendor's solicitor, or the client?
- What is the consequence of missing it?
Holiday proximity check
When any deadline falls within one week of a holiday cluster (CNY, Easter, or October), run these additional checks:
- Verify the exact General Holiday dates for the current year
- Check whether any substitution days affect the count
- Run the calculation with a second person as a cross-check
- Log the final date and assumptions in the matter file
The Easter + Ching Ming cluster in April 2026 (3–7 April, five consecutive non-working days) is the year's biggest risk zone.
Quick answers
Is the stamp duty deadline counted in working days?
No. The stamp duty deadline runs in calendar days, so weekends and General Holidays do not pause the count.
Why do holiday clusters matter so much in conveyancing?
They remove practical working time from solicitor, bank, and registry schedules. A deadline that spans Easter, Ching Ming, or Chinese New Year can leave far fewer usable business days than the headline period suggests.
What is the first deadline most buyers should check after signing a PASP?
Usually the PASP-to-ASP window, because that controls when the formal agreement must be signed and whether the matter can proceed without extra complications or penalty exposure.
Where the calculator helps
The HK calculator counts working days using the gazetted 2026 holiday list, automatically excluding General Holidays and weekends. This is useful for:
- PASP-to-ASP working-day deadlines
- Requisition periods
- Completion date planning around holiday clusters
For step-by-step scenarios, see the Use Cases.
