Property News · October 17, 2019

Housing policy cushions Hong Kong’s property slump, adding US$3 billion to wealth of city’s six richest real estate tycoons


The Hong Kong government’s relaxation of mortgage payment rules for the first time in nine years would help spur sales of lived-in homes by as much as 30 per cent in the quarter ending in December, putting a cushion under the slump in the city’s real estate sales.In her televised policy address on Wednesday, the city’s Chief Executive Carrie Lam Cheng Yuet-ngor unexpectedly raised the mortgage cap to 90 per cent, from 60 per cent, for home worth as much as HK$8 million (US$1 million), enabling…

Source : South China Morning Post
Read more…Housing policy cushions Hong Kong’s property slump, adding US billion to wealth of city’s six richest real estate tycoons

You may also like...