Mortgage loans for new homes provided by banks inched up 1.5 per cent in 2018, but the proportion of loans offered by non-banking financial companies, mainly developers’ finance companies, jumped to 21.7 per cent of the total, up from 14.6 per cent in 2017. Photo: Felix Wong

Tightened mortgage lending has pushed Hongkongers into arms of cash-rich developers and their expensive property loans

  • Developers woo buyers with financing plans that cover more of a property’s value than the maximum offered by banks
  • Sales in Hong Kong’s secondary market have dropped by half since 2008
Topic |   Hong Kong property

TOP PICKS

Mortgage loans for new homes provided by banks inched up 1.5 per cent in 2018, but the proportion of loans offered by non-banking financial companies, mainly developers’ finance companies, jumped to 21.7 per cent of the total, up from 14.6 per cent in 2017. Photo: Felix Wong
READ FULL ARTICLE