Private residential development The Horizon, developed by Billion Development and Project Management, at Pak Shek Kok, seen during its construction in 2019. Homebuyers are facing stricter loan assessments amid the city’s economic slump. Photo: Sun YeungPhoto: Martin Chan Private residential development The Horizon, developed by Billion Development and Project Management, at Pak Shek Kok, seen during its construction in 2019. Homebuyers are facing stricter loan assessments amid the city’s economic slump. Photo: Sun YeungPhoto: Martin Chan
Private residential development The Horizon, developed by Billion Development and Project Management, at Pak Shek Kok, seen during its construction in 2019. Homebuyers are facing stricter loan assessments amid the city’s economic slump. Photo: Sun YeungPhoto: Martin Chan

Thousands of Hongkongers face home financing crunch as flat delivery increases and banks tighten loan scrutiny amid economic slump

  • More than 11,000 units in 17 residential projects are due for handover in the second half this year, almost double the volume in the preceding six months
  • Several lenders have also raised their lending rates twice in the past six months, according to Eric Tso of mReferral Mortgage Brokerage

Topic |   Hong Kong property
Private residential development The Horizon, developed by Billion Development and Project Management, at Pak Shek Kok, seen during its construction in 2019. Homebuyers are facing stricter loan assessments amid the city’s economic slump. Photo: Sun YeungPhoto: Martin Chan Private residential development The Horizon, developed by Billion Development and Project Management, at Pak Shek Kok, seen during its construction in 2019. Homebuyers are facing stricter loan assessments amid the city’s economic slump. Photo: Sun YeungPhoto: Martin Chan
Private residential development The Horizon, developed by Billion Development and Project Management, at Pak Shek Kok, seen during its construction in 2019. Homebuyers are facing stricter loan assessments amid the city’s economic slump. Photo: Sun YeungPhoto: Martin Chan
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