Hong Kong’s Central business district, where some of the city’s biggest banks are based. Recent cases of delays in the delivery of new properties and the cancellation of presales at an incomplete project could be behind lenders’ decision to avoid mortgages for uncompleted flats. Photo: Bloomberg
Hong Kong’s Central business district, where some of the city’s biggest banks are based. Recent cases of delays in the delivery of new properties and the cancellation of presales at an incomplete project could be behind lenders’ decision to avoid mortgages for uncompleted flats. Photo: Bloomberg

Hong Kong’s banks pull the plug on a second unfinished housing project, halting mortgage loans to Kwai Hung’s Mangrove flats

  • Large banks avoiding mortgages for incomplete units at the same time a first for Hong Kong, brokerage CEO says
  • Mortgages for completed homes in the first eight months of 2021 jumped 23.3 per cent year on year, but those for incomplete units sank 22.9 per cent

Topic |   Hong Kong property
Hong Kong’s Central business district, where some of the city’s biggest banks are based. Recent cases of delays in the delivery of new properties and the cancellation of presales at an incomplete project could be behind lenders’ decision to avoid mortgages for uncompleted flats. Photo: Bloomberg
Hong Kong’s Central business district, where some of the city’s biggest banks are based. Recent cases of delays in the delivery of new properties and the cancellation of presales at an incomplete project could be behind lenders’ decision to avoid mortgages for uncompleted flats. Photo: Bloomberg
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