Yes - unlike some countries, Hong Kong allows foreigners (with the exception of a few nationalities) to buy properties in Hong Kong and rent them out without restriction.  The cost of the property can be paid as an initial 5% deposit when signing a preliminary sale and purchase agreement, with the remaining balance paid 6-8 weeks later when the title deeds have been prepared at a solicitor’s office. In addition, there are agency fees, lawyer fees and stamp duty fees to be paid.