HK announces measures to relax mortgage rules for first time buyers
Under the new measure, the government-backed Hong Kong Mortgage Corporation will relax the ceiling on mortgage financing schemes for first-home buyers. Purchasers will be able to borrow up to 90 per cent of a property’s value to a maximum of HK$8 million (US$1 million), from HK$4 million previously. First-time homebuyers in Hong Kong can now…