Total property sales in Hong Kong last month grew 8.9 per cent month on month but buyer sentiment has since become weak, affected by the April 1 implementation of new rules on applying for mortgages, according to an analyst.Tuesday, 5 April, 2011, 12:00am
Applicants for mortgages who refuse to let banks dig into their credit history may find banks lend them much less than they ask for or charge them a punitive interest rate, the Hong Kong Monetary Authority says.
It made the announcement on the eve of its launch of a controversial 'positive mortgage data sharing' scheme today.1 Apr 2011 - 12:00am
Nothing has dominated the world's thoughts in the past two weeks like the Japan earthquake and tsunami, and our compassion goes to the victims of the disaster. But, at the same time, we cannot afford to neglect an important event in Beijing with direct relevance to our city and its markets, including the property market.25 Mar 2011 - 12:00am
Mortgage lenders will be asked how many outstanding mortgages they have from next month, when a positive mortgage data archive is set up.23 Mar 2011 - 12:00am
Flat-buyers seeking home mortgages at banks will have to surrender more of their credit history from next month.
This is because the Privacy Office has given the go-ahead to controversial mortgage data-sharing arrangements.22 Mar 2011 - 12:00am
The number of residential flat transactions dropped over the weekend as the city's major banks began to lift mortgage rates.
Some analysts expect purchase sentiment to weaken further; others say the impact will be minimal.16 Mar 2011 - 12:00am
In an effort to beat the introduction of measures to cool the property market, homebuyers on the mainland spent 447.1 billion yuan (HK$529 billion) in the first two months of the year, up 26 per cent from the same period a year earlier, according to the National Bureau of Statistics.12 Mar 2011 - 12:00am
The total number of new mortgages for completed flats fell by a third last month from January, the lowest since June 2009, but mortgage brokers expect the figure to bounce back next month.
There were 10,334 mortgages recorded in February for completed units, a 32 per cent drop from the previous month, according to data from mortgage broker mReferral.3 Mar 2011 - 12:00am
A reverse mortgage pilot scheme to be launched this year has been fine-tuned, just two months after the plan was announced.
Peter Pang Sing-tong, executive director of the Hong Kong Mortgage Corp, revealed the changes yesterday, and denied the adjustments were made owing to a poor response.25 Feb 2011 - 12:00am
Hong Kong's luxury hotels must love London. Every weekend, their function rooms are packed with developers plugging property there. The pound is weak. The British property market has been bashed. So there's no hesitation from some brokers in identifying the most attractive market for overseas investment this year.11 Feb 2011 - 12:00am
What do you do with HK$1.5 million in your savings account when the interest rate is almost zero?
Many people would buy property or shares, but in the past year more and more investors have been going off the beaten track and buying a taxi licence - HK$1.5 million roughly covers the down payment.7 Feb 2011 - 12:00am
The Big Short by Michael Lewis Penguin HK$153
They may have been nobodies just a few years ago, but the characters who drive The Big Short are names today, and not just because of the zillions they made by being prescient about the recent credit bubble.6 Feb 2011 - 12:00am
Last year was a record one for home loans in Hong Kong, with HK$320 billion in new loans drawn down over the 12-month period. That easily surpasses the HK$256 billion in property loans taken out in 1997, the previous record high.7 Jan 2011 - 12:00am
The financial industry wants banks and other lenders to be able to share positive credit data for property mortgage loans, under a proposal to broaden the scope of a code of practice on privacy.
But the amount of positive mortgage data shared would be limited to the number of outstanding mortgages a loan applicant has, something the privacy chief supports.6 Jan 2011 - 12:00am
The head of a high-powered advisory body on government policies for the elderly urged a rethink on controversial reverse mortgages for elderly people before they were launched next year, as many key issues had yet to be resolved.27 Dec 2010 - 12:00am