Hong Kong eases homebuying curbs to support real estate market

HKMA relaxes mortgage rules and government removes cooling measures

Hong Kong _ junkboat _ Getty - web.jpg

The authorities in Hong Kong today (February 28) eased mortgage rules and scrapped extra property taxes to boost the city’s lacklustre real estate market. 

The Hong Kong Monetary Authority (HKMA) has allowed homebuyers to borrow more to purchase more expensive homes. Homebuyers can now borrow up to 70% of the value of an owner-occupier home worth HK$30 million (US$3.8 million) or less, the HKMA said in a statement. These properties make up 98% of home transactions in the territory. Previously

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