Work progresses on mainland Chinese developer Minmetals Land’s Montego Bay residential project in Yau Tong in June 2022. Photo: Xiaomei Chen
Work progresses on mainland Chinese developer Minmetals Land’s Montego Bay residential project in Yau Tong in June 2022. Photo: Xiaomei Chen

Developers’ aggressive loan schemes could put financially weak buyers at risk if Hong Kong home prices fall, analysts say

  • Minmetals Land, the developer of Montego Bay in Yau Tong, has come up with a plan that allows buyers to defer payments for two years
  • The interest rate on the ‘Super Easy First Mortgage Loan’ plan works out to 5.5 per cent at present, versus 1.61 per cent for a Hibor-linked plan