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Real Estate Briefing - Categorized | Emerging Trends, Mortgage more

Hong Kong’s tighter mortgage rules may cool prices

Posted on 16 August 2010

From Bloomberg: Hong Kong’s tightening of mortgage lending rules and plan to increase the supply of land may help cool surging home prices in the city, according to property agency Midland Holdings Ltd.

Down payments for apartments costing HK$12 million ($1.54 million) or more will rise to 40 percent, from 30 percent, with immediate effect, Hong Kong Monetary Authority Chief Executive Norman Chan said Aug. 13. The government will increase land sales next year, Financial Secretary John Tsang said earlier…………………………………….Full Article: Source


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