HONG KONG : Cases of negative equity in Hong Kong's residential mortgage loans rose 27 per cent in the first quarter from the previous one to the highest in 20 years, the city's de facto central bank said.
An aerial view shows Choi Hung public housing estate and other residential buildings with the Lion Rock peak in the background, in Hong Kong, China June 3, 2021. Picture taken June 3, 2021 with a drone. REUTERS/Joyce Zhou/ File photoHONG KONG : Cases of negative equity in Hong Kong's residential mortgage loans rose 27 per cent in the first quarter from the previous one to the highest in 20 years, the city's de facto central bank said.
Prices in one of the world's most expensive property markets dropped 1.8 per cent in the January-March quarter, and were around 20 per cent off their 2021 peak due to higher mortgage rates, an outflow of talent and a weak market outlook.
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