Property News · June 14, 2018

Hongkongers will feel the squeeze as mortgage rates gain momentum


The monthly mortgage repayment of homeowners in Hong Kong is expected to rise to 70 per cent of their monthly income by the end of this year – the highest level in nearly two decades – as mortgage rates kick upwards and home prices show no signs of abating, according to mReferral Mortgage Brokerage Services.
At present, the affordability ratio – monthly mortgage instalment to median salary income of families living in private flats – was 60 per cent, indicating that Hong…

Source : South China Morning Post
Read more…Hongkongers will feel the squeeze as mortgage rates gain momentum