Property News · November 20, 2019

Hong Kong’s higher mortgage cap deters at least one developer from building micro-flats as buyers can now afford larger homes


The boom in Hong Kong’s micro-apartments appears to be over, as the first easing in mortgage entitlements in a decade has helped buyers to afford larger homes, causing at least one developer of shoebox-sized property to quit the market.Micro-apartments, defined as those smaller than 200 square feet (18.6 square metres), are unsustainable as investments, and are the most prone to any declines in property prices, said Rykadan Capital, the developer that recorded HK$390 million of sales from 66…

Source : South China Morning Post
Read more…Hong Kong’s higher mortgage cap deters at least one developer from building micro-flats as buyers can now afford larger homes

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