Hong Kong raises limit on mortgage lending to 85%; plan is more likely to lift sentiment of home buyers, investors than to aid economy
Article Abstract:
Hong Kong's declining real estate market has received a much-needed boost when the government announced an increase in the banks' mortgage banking limits. Beginning in early 1999, mortgage loans will be raised from 70% of the home purchased by the borrower to 85%. Industry experts predict that the new measure will bolster the sentiment of home buyers and investors in the short-term but will not have any lasting effects on Hong Kong's grim economic prospects.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Hong Kong seeks cooldown
Article Abstract:
Hong Kong Secretary for Housing Dominic Wong has ordered real estate developers to curb speculation in their marketing practices. He rejected new antispeculative measures while assuring the real estate industry of self-regulation. In response to Wong's call, Sun Hung Kai Properties Ltd. vowed to limit apartment sales to companies to 20% of the units in a new development. This strategy will draw more end-users than speculators.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Hong Kong building king hits a wall. Government changes tack on mining-contract policy; decision to drop proposed changes means foreign investors can proceed with projects
- Abstracts: Cracks in the ceiling. Comeback kids: China's prodigals come home to prosper in Shanghai. The radio radicals
- Abstracts: State of confusion. The bright side: believe it or not, Thailand isn't all gloom and doom. The jaws of hell: new projects stoke memories of 'death railway.'(Rod Beattie seeks to build monument to prisoners of war in Thailand)
- Abstracts: Citic Pacific loan raises eyebrows. Contrarian still sees value in some Taiwan stocks. Schroder Asia Energy fund builds on long-term fuel
- Abstracts: Managing r&D - marketing integrating in the new product development process. Environment and innovation: the case of the small entity