** Hang Seng Property Index .HSNP firms 3.1% after Hong Kong Financial Secretary Paul Chan's budget proposals for FY25-26

** Maximum value of properties chargeable to a HK$100 ($12.87) stamp duty will be raised from HK$3 mln to HK$4 mln

** Earlier, stamp duty for home transactions at HK$4 million was HK$60,000

** Sale of commercial land will be halted to absorb existing supply

** New World Development 0017.HK jumps more than 6%; Kerry Properties 0683.HK and Hang Lung Properties 0101.HK up around 4% each

** Sun Hung Kai Properties 0016.HK, Henderson Land 0012.HK gain more than 2% each; CK Asset 1113.HK slips 0.7%

** Real estate consultancy Knight Frank says raising maximum value of properties subject to HK$100 stamp duty may drive home transactions by 5%-10% as it facilitates young, first-time buyers

** Consultancy JLL says new supply of commercial buildings until 2029 will put upward pressure on vacancy rates

** Consultancy CBRE says budget has fewer policy measures aimed at directly boosting property demand

** Expects high financing costs, oversupply of properties to hinder meaningful increase in investment demand

($1 = HK$7.7709)

(Reporting by Clare Jim)

((clare.jim@tr.com))