{"id":117192,"date":"2020-06-17T06:00:09","date_gmt":"2020-06-16T23:00:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreclosures-set-to-surge-as-hong-kong-homeowners-struggle-with-finances-due-to-recession-rising-unemployment\/"},"modified":"2020-06-17T10:04:52","modified_gmt":"2020-06-17T03:04:52","slug":"foreclosures-set-to-surge-as-hong-kong-homeowners-struggle-with-finances-due-to-recession-rising-unemployment","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreclosures-set-to-surge-as-hong-kong-homeowners-struggle-with-finances-due-to-recession-rising-unemployment\/","title":{"rendered":"Foreclosures set to surge as Hong Kong homeowners struggle with finances due to recession, rising unemployment"},"content":{"rendered":"


\nThe number of foreclosed properties in Hong Kong could reach the highest level since the global financial crisis early next year, as owners struggle to repay mortgages amid a recession-hit economy that has taken a toll on businesses and pushed the unemployment rate to the highest in more than 15 years.\u201cThe number of foreclosed properties will surge next year to [between] 1,000 and 2,000,\u201d said Henry Choi, a director at property auctioneer Century 21 Surveyors, comparing the situation in 2009\u2026
\n
\nSource : South China Morning Post
\nRead more…Foreclosures set to surge as Hong Kong homeowners struggle with finances due to recession, rising unemployment<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The number of foreclosed properties in Hong Kong could reach the highest level since the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-117192","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uuc","jetpack-related-posts":[{"id":119618,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-poised-for-first-annual-decline-in-home-prices-in-12-years-as-coronavirus-deepens-recession-adds-to-unemployment-woes\/","url_meta":{"origin":117192,"position":0},"title":"Hong Kong poised for first annual decline in home prices in 12 years as coronavirus deepens recession, adds to unemployment woes","date":"December 29, 2020","format":false,"excerpt":"\r Hong Kong looks likely to record its first annual drop in home prices for 12 years as a fourth wave of coronavirus infections threatens to worsen the city\u2019s recession and unemployment problem.The official price index for used homes slipped 0.2 per cent to 380.4 in November, the lowest level\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117304,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/banks-cut-prices-on-foreclosed-properties-in-hong-kong-as-buyers-turn-cautious-amid-distress-market-correction\/","url_meta":{"origin":117192,"position":1},"title":"Banks cut prices on foreclosed properties in Hong Kong as buyers turn cautious amid distress, market correction","date":"June 24, 2020","format":false,"excerpt":"\r Banks are being forced to reduce prices on foreclosed properties to recoup their loans, as buyers in Hong Kong become increasingly cautious about the economic outlook and a deeper market correction.About one-third of 98 foreclosed properties on the market have had their prices trimmed in June, according to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115654,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-than-1000-hong-kong-homeowners-could-see-loans-exceed-value-of-properties-in-first-quarter\/","url_meta":{"origin":117192,"position":2},"title":"More than 1,000 Hong Kong homeowners could see loans exceed value of properties in first quarter","date":"April 16, 2020","format":false,"excerpt":"\r More than 1,000 homebuyers are on the verge of falling into negative equity in Hong Kong, after the prices of flats in some housing estates declined by more than 10 per cent from October last year, industry insiders said.Negative equity occurs when a home loan exceeds the market value\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11596,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-repo-man-is-back-at-work-in-the-property-sector-as-harsh-economy-and-falling-house-prices-fuel-surge-in-foreclosures\/","url_meta":{"origin":117192,"position":3},"title":"Hong Kong\u2019s repo man is back at work in the property sector, as harsh economy and falling house prices fuel surge in foreclosures","date":"April 28, 2016","format":false,"excerpt":"\r Property foreclosures in Hong Kong continue to mount as home prices delate, and analysts warn there would be more borrowers failing to pay mortgages on time as the downtrend continues.\r \r Source : South China Morning Post\r Read more...Hong Kong\u2019s repo man is back at work in the property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119291,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/record-number-of-homebuyers-walk-away-from-hong-kong-property-purchases-amid-rising-jobless-rate-pay-cuts-due-to-covid-19\/","url_meta":{"origin":117192,"position":4},"title":"Record number of homebuyers walk away from Hong Kong property purchases amid rising jobless rate, pay cuts due to Covid-19","date":"November 20, 2020","format":false,"excerpt":"\r The number of homebuyers reneging on flat purchases this year has reached an all-time high as the Covid-19 pandemic casts a shadow on the city\u2019s economy, pushing the unemployment rate up and forcing many companies to implement pay cuts as they struggle to stay in business.They have walked away\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157144,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-economys-mixed-signals-portend-retail-turbulence-analysts-say\/","url_meta":{"origin":117192,"position":5},"title":"Hong Kong economy\u2019s \u2018mixed signals\u2019 portend retail \u2018turbulence\u2019, analysts say","date":"July 8, 2025","format":false,"excerpt":"\r Hong Kong\u2019s retail industry will experience mixed fortunes in coming months, as rising unemployment threatens to dent consumer spending even as the economy and household incomes improve and tourist numbers surge, according to CBRE. \u201cRight now, there is positive news and negative news in the market,\u201d said Lawrence Wan,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117192"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=117192"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117192\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=117192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=117192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=117192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}