Residential buildings stand illuminated in Hong Kong. The cost of owning a home in Hong Kong will go up after most banks in the city said they are raising their mortgage rates. Photo: Bloomberg

Owning a home in the world’s most expensive property market just got tougher as banks raise mortgage rates

Home loan rates offered by HSBC, Bank of China (HK) and Hang Seng Bank to rise by 10 basis points in line with Citibank’s increase on new borrowers, while all existing homeowners are expected to pay more by the end of August, in what will be the first prime rate increase for 12 years

Topic |   Property financing

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Residential buildings stand illuminated in Hong Kong. The cost of owning a home in Hong Kong will go up after most banks in the city said they are raising their mortgage rates. Photo: Bloomberg
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