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Hong Kong lowers ceiling on property loans

Posted on 14 June 2011

Hong Kong’s de facto central bank tightened mortgage lending again Friday and for the first time toughened lending standards for nonlocals, as it works to tame a property boom fueled in part by demand from mainland China.

Average home prices jumped 24% in 2010 and 30% in 2009, pushed by abundant liquidity, record-low interest rates and a flood of investors from the mainland. The government has been increasing land supply and implementing other measures to temper prices, though results so far have been mixed……………………………………….Full Article: Source

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