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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