{"id":1968320,"date":"2023-07-10T08:01:02","date_gmt":"2023-07-10T12:01:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hong-kongs-easing-of-mortgage-rules-boosts-home-visitors-but-not-deals\/"},"modified":"2023-07-10T08:02:57","modified_gmt":"2023-07-10T12:02:57","slug":"hong-kongs-easing-of-mortgage-rules-boosts-home-visitors-but-not-deals","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hong-kongs-easing-of-mortgage-rules-boosts-home-visitors-but-not-deals\/","title":{"rendered":"Hong Kong&#8217;s relaxed mortgage regulations attract more home seekers, but fail to drive significant property transactions."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhong-kongs-easing-of-mortgage-rules-boosts-home-visitors-but-not-deals%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1968320&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Hong Kong&#8217;s Move to Boost Homebuying Interest<\/h2>\n<p>By Clare Jim<\/p>\n<p>HONG KONG (Reuters) \u2013 Hong Kong&#8217;s property market is seeing a glimmer of hope as the government raises the maximum mortgages available to homebuyers. This marks the first relaxation in curbs on home purchases since 2009. While the move has boosted shopping interest over the weekend, property agents report that it has done little to increase transaction volumes.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>One of the world&#8217;s most expensive property markets, Hong Kong has raised its cap on the loan-to-value (LTV) ratio to 60% to 70% from 50% for properties worth up to HK$30 million ($3.8 million).<\/p>\n<p>This move is aimed at helping those looking to buy or upgrade homes for their own use. As a result, visitors to new home launches and existing homes have increased by 20% to 30% during the past weekend compared to the previous week, according to Louis Chan, Asia Pacific vice chairman of Centaline Property Agency.<\/p>\n<p>However, Chan also noted that buyers are not reacting quickly due to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/unemployment-ticks-higher-in-final-jobs-report-before-election\/\" title=\"Unemployment Ticks Higher in Final Jobs Report Before Election\">uncertain economic conditions<\/a> and the prospect of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-chair-no-interest-rate-hikes-until-inflation-spike\/\" title=\"Federal Reserve Chair: No interest rate hikes until inflation spike\">interest rate hikes<\/a>. He mentioned that 75% of existing transactions are for properties worth HK$10 million or less, which are small-sized apartments. Therefore, the new measure will only benefit about a fifth of the transactions.<\/p>\n<p>After experiencing a 15% drop in home prices last year, market participants have been urging the government to relax property curbs. However, Financial Secretary Paul Chan has reiterated that there are no plans to further relax measures after Friday&#8217;s move.<\/p>\n<p>Despite the easing of restrictions, the stock market&#8217;s reaction has been muted, with most property developers seeing minimal gains. Sun Hung Kai Properties and New World Development, however, experienced slight declines.<\/p>\n<p>Alvin Cheung, associate director of Prudential Brokerage Ltd., explained that setting a limit on higher transaction volumes is an existing stress test on borrowers&#8217; repayment ability, which has not been relaxed. He also emphasized that to truly improve the property market, a basket of relaxations is needed, as people are usually reluctant to borrow more during times of rising interest rates.<\/p>\n<p>While the government move has faced some controversy, many developers have welcomed it. Henderson Land stated that it facilitated property trading for homebuyers, while Asia Standard International mentioned that it eased some of the burden of down payments. Phileas Kwan, executive director of Asia Standard, reported that their new development had been 9.4 times oversubscribed over the weekend, with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hong-kongs-easing-of-mortgage-rules-boosts-home-visitors-but-not-deals\/\" title=\"Hong Kong's relaxed mortgage regulations attract more home seekers, but fail to drive significant property transactions.\">buyers including newly-weds<\/a> and home upgraders.<\/p>\n<p>Despite the mixed reactions, it seems that Hong Kong&#8217;s property market is cautiously navigating through these changes.<\/p>\n<p> (Reporting by Clare Jim; Editing by Clarence Fernandez)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/hong-kongs-easing-of\/attachment\/file-photo-china-funds-flock-to-hong-kong-to-sate-3\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Mark Zuckerberg&#8217;s New Threads App<\/h2>\n<p>Facebook and Meta&#8217;s Mark Zuckerberg has released a new Threads app, which many say is a &#8216;softer&#8217; version of rival Elon Musk&#8217;s Twitter app. However, the new app is not without controversy.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Jeff Landry Leads in Louisiana Governor Race<\/h2>\n<p>National Political Correspondent Neil W. McCabe interviewed pollster Doug Kaplan about his Kaplan Strategies poll showing Louisiana&#8217;s Republican Attorney General Jeff Landry with a commanding lead in the race to be the next Pelican State governor.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Conservative Group Implodes Amid Presidential Alignment<\/h2>\n<p>New reports allege that a top Conservative group is imploding after it was revealed that the founder is aligning herself with one presidential candidate.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Mark Zuckerberg&#8217;s Rivalry with Elon Musk<\/h2>\n<p>Meanwhile, Mark Zuckerberg has released his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tusk-ceo-jeff-bermant-on-threads-launch\/\" title=\"Tusk CEO Jeff Bermant discusses Threads launch.\">latest social media app<\/a> to rival Twitter as part of his ongoing feud with Elon Musk.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Foxconn Pulls Out of Joint Venture with Vedanta Ltd<\/h2>\n<p>BENGALURU (Reuters) &#8211; Foxconn announced on Monday that it is pulling out of a joint venture with Vedanta Ltd that was set up&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>China&#8217;s Auto Manufacturers Retract Pricing Pledge<\/h2>\n<p>(Reuters) &#8211; The group representing China&#8217;s auto manufacturers has retracted a pledge to avoid &#8220;abnormal pricing&#8221; that it had brokered between 16 automakers&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Ocado Launches First Robotic Warehouse in Asia<\/h2>\n<p>LONDON (Reuters) &#8211; British online supermarket and technology group Ocado announced on Monday the launch of its first robotic warehouse in Asia, built for Japanese&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Central Banks Expected to Introduce Digital Currencies<\/h2>\n<p>By Karin Strohecker LONDON (Reuters) &#8211; Some two dozen central banks across emerging and advanced economies are expected to have digital currencies&#8230;<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong increased maximum mortgages for homebuyers, sparking interest but not significantly impacting transaction volumes. Despite being one of the priciest property markets globally, the relaxation of home purchase restrictions in place since 2009 had limited impact on actual sales, according to property agents.<\/p>\n","protected":false},"author":66,"featured_media":1968321,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1968320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1968320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1968320"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1968320\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1968321"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1968320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1968320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1968320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}