Driven by multiple favourable policies such as the easing of cooling measures and relaxed mortgage LTV ratios, Hong Kong’s primary property market remains vibrant in 2026, with developers actively launching new projects.
For first-time buyers (commonly known as “home starters”), purchasing a primary property (whether off-plan or completed units) eliminates the need for tedious viewings and price negotiations typical in the secondary market. However, the unique system of “registration, balloting, and flat selection” often leaves newcomers feeling confused.
“What is registration? What’s the difference between Group A and Group B? How much should I prepare for the cashier’s order?”
This guide provides a complete breakdown of the 2026 new launch purchase process, helping you navigate the market with confidence.
New Launch Purchase Process｜5 Key Stages
Unlike second-hand properties, primary sales are strictly regulated under the Residential Properties (First-hand Sales) Ordinance. The process generally consists of the following stages:
➔ [Stage 1: Show flat viewing & registration]
➔ [Stage 2: Ballot results announcement]
➔ [Stage 3: Selection day & signing of Preliminary Agreement for Sale and Purchase (PASP)]
➔ [Stage 4: Signing of Formal Agreement & mortgage application]
➔ [Stage 5: Handover & move-in]
Among these, the most critical (and often confusing) stages are registration, balloting, and flat selection.
Key Focus 1: Registration Mechanics & Cashier’s Order Preparation
Once the developer releases the price list and sales arrangements, show flats are typically opened for public viewing. Interested buyers must submit a purchase intention — commonly referred to as “registration” (or “ticket entry” in Hong Kong).
1. What is a Cashier’s Order? How much is required?
Buyers are generally required to submit a cashier’s order of approximately HKD 100,000, made payable to the developer’s designated law firm, as a deposit for registration.
- Purpose: Demonstrates purchasing intent
- Successful purchase: Converted into part of the initial deposit
- Unsuccessful / withdrawal: Fully refundable
Practical tip:
Ensure the payee name is accurately filled in as required; otherwise, the registration may be rejected.
2. Increasing Your Chances: Multi-Entry Strategy
Many buyers adopt a “multi-ticket” strategy to improve their chances:
- Submitting multiple registrations per person (subject to developer limits)
- Family members registering separately (e.g. spouses each submit)
While some projects tighten anti-duplication rules to curb speculation, such strategies remain relatively common.
Key Focus 2: Balloting System｜Group A vs Group B
After registration closes, developers conduct a ballot and publish the selection sequence list.
Buyers are usually divided into Group A and Group B, with significant differences in priority:
| Group | Positioning | Purchase Conditions | Priority |
|---|---|---|---|
| Group A | Bulk buyers / investors | Typically required to purchase multiple units or designated larger units (e.g. 3-bedroom) | Highest |
| Group B | Regular buyers / first-time buyers | Usually limited to purchasing one unit | Lower (after Group A) |
💡 Tip for first-time buyers:
Premium units (high floors, good views, popular layouts) are often allocated to Group A first. By the time Group B enters, top choices may already be sold out.
➡ Prepare at least 3–5 backup unit options in advance
Key Focus 3: Selection Day – What to Expect
The selection day is typically crowded and high-pressure. Preparation is key.
1. On-time Registration
Bring the following documents:
- ID card
- Registration receipt
- Cashier’s order
⚠️ Late arrivals may be pushed to the end of the queue or even disqualified.
2. Monitor the “Availability Chart”
A real-time sales control chart displays sold units.
👉 Keep track of your preferred units. If sold, immediately switch to backup options.
3. Enter Selection Area (3–5 Minutes Decision Window)
When called, you must quickly decide:
- Once confirmed, the unit is locked
- No changes or cancellations allowed
4. Sign Preliminary Agreement (PASP)
After selecting your unit:
- HKD 100,000 cashier’s order → becomes part of initial deposit
- Top up to ~5% of property price
Payment is usually by cheque or credit card.
Two Critical Steps After Selection
1. Sign Formal Agreement Within 5 Working Days
You must complete the following within 5 working days:
- Sign Formal Agreement for Sale and Purchase
- Pay remaining deposit (typically 10% minus initial deposit)
- Settle stamp duty and legal fees
⚠️ Important:
Failure to comply may result in forfeiture of the initial deposit (~5% of property price).
2. Payment Method & Mortgage Arrangement
✅ Immediate Payment Plan (Higher Discount)
- Completion in ~120–180 days
- Mortgage application required promptly
✅ Construction Stage Payment Plan (Lower Discount)
- Final payment upon project completion
- Mortgage application typically 3–6 months before handover
Summary｜Key Takeaways for First-Time Buyers
- Prepare ~HKD 100,000 cashier’s order for registration
- Group A has priority; Group B should manage expectations
- Always prepare multiple backup unit choices
- Immediate payment and signing required upon selection
- Formal agreement must be completed within 5 days to avoid forfeiture
Overall, while the process is structured, every stage involves significant financial commitment. Proper financial planning and mortgage readiness are essential for a successful entry into the market.