Hong Kong's easing of mortgage rules boosts home visitors, but not deals

HONG KONG : Hong Kong's move to raise the maximum mortgages available to some homebuyers, its first relaxation in curbs on home purchases adopted in 2009, boosted shopping interest over the weekend but did little for transaction volumes, property agents said.

"However the buyers would not react so quickly, because the economy is still not good," Chan added, citing uncertainty over the prospect of interest rate hikes. But the government has no intention to relax more measures after Friday's move, Financial Secretary Paul Chan has reiterated. Sun Hung Kai Properties and New World Development, eased 1.6 per cent and 1 per cent respectively, however.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

For Hong Kong's youth, government-backed hostels offer a smidgen of housing hopeHONG KONG: For most young adults, moving out of home is a rite of passage but in Hong Kong - notorious for its chronic lack of housing - it's usually an unaffordable dream. Silver Ho, a 26-year-old hair stylist assistant who was tired of arguing with his parents, counts himself as one of the lucky ones. Tw
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China property developer Kaisa faces Hong Kong lawsuit seeking to wind it upHONG KONG : Chinese property developer Kaisa Group said on Monday a winding-up petition has been filed against it in a Hong Kong court in relation to 170 million yuan ($23.50 million) non-payments on onshore bonds. Shares of the company dropped as much as 13.5 per cent by 0303GMT to HK$0.18, an all-time l
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »