Competition among Hong Kong banks in residential lending is expected to intensify as an upturn in interest rates approaches.Wednesday, 28 April, 2004, 12:00am
Civil servant Jerry Lee is relieved home loan interest will be tax-deductible for an additional two years.
After suffering a tax rise in the last budget, and a salary cut, and seeing the property market shrink, Mr Lee said the measure was more than just a gesture to ease his financial burden.11 Mar 2004 - 12:00am
Updated at 5.40pm: The problem of negative equity was improving following a recent surge in property prices and a recovery in the economy, the Hong Kong Monetary Authority said on Thursday.12 Feb 2004 - 12:00am
The number of Hong Kong home loans in negative equity has dropped by 32 per cent in the past few months after a significant surge in property prices.
Developers yesterday asked the government not to intervene again in the market, but Chief Executive Tung Chee-hwa said the administration was determined to maintain stability in the sector.3 Feb 2004 - 12:00am
HKMA deputy chief says borrowers must be given room to restructure debts
Hong Kong's top banking regulator yesterday warned that banks' mortgage portfolios could deteriorate further unless borrowers were granted leniency in restructuring their debts.10 Jul 2003 - 12:00am
Lenders face a growing threat from massive negative equity in the Hong Kong banking system if the trend in unemployment and property prices continues unchecked, ratings agency Fitch has warned.17 Apr 2003 - 12:00am
Competition for home mortgage loan business has extended to the 140 per cent refinancing market aimed at negative equity owners, with more banks offering preferential terms to lure customers.
Dah Sing Bank is the latest bank to offer a scheme which it says could help negative equity owners save more than 40 per cent of their interest expenditure.12 Jul 2002 - 12:00am
The Hong Kong Mortgage Corporation (HKMC) has announced 26 banks have signed letters of intent to join its 140 per cent refinancing mortgage scheme for negative-equity home owners.
The first to sign up was American Express Bank, which will unveil details to customers today.4 Jul 2002 - 12:00am
Banks have welcomed the introduction of a Hong Kong Mortgage Corp scheme enabling them to lend up to 140 per cent of a property's market value to help home owners caught in negative equity traps.15 Jun 2002 - 12:00am
The number of home owners in negative equity in the SAR will increase this year in anticipation of continued price corrections, according to Goldman Sachs.
The securities house said the updated estimate by the Hong Kong Monetary Authority (HKMA) of 73,000 households in negative equity would probably be at the lower end of market estimates.3 Apr 2002 - 12:00am
Property and technology investment firm E2-Capital (Holdings) is offering HSBC Holdings' shares worth more than HK$300,000 to draw buyers to its Vision Court residential development in Kowloon. Buyers will be given 3,000 to 4,000 HSBC shares each, depending on the size of the units bought. The company is releasing 12 units for public sale at about HK$5,880 per square foot.1 Mar 2002 - 12:00am
Bad loans on the books of Hong Kong banks continued a steady trend of improving asset quality for the sector in the final quarter of last year, despite a surge in credit-card defaults, the Hong Kong Monetary Authority reported yesterday.1 Mar 2002 - 12:00am
I have read several articles in the last few weeks regarding the Urban Renewal Authority's plans to redevelop old and run-down areas of the SAR by keeping and refurbishing some of the old buildings.
This is a very admirable strategy, particularly as Hong Kong has seen so many of its old buildings torn down in the last few years.19 Jan 2002 - 12:00am
Hong Kong Mortgage Corp (HKMC) will relax its purchasing criteria for loans to encourage banks to offer refinancing to borrowers in negative equity.21 Dec 2001 - 12:00am
Demand for new home loans shrank for the second consecutive month in October, falling 13.4 per cent to HK$7 billion.
The weak performance followed a 31.8 per cent fall in gross new loans made in September, and extended the sharp reverse in the blossoming of positive sentiment among home-buyers which had been under way from May until August.29 Nov 2001 - 12:00am