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HK may cut downpayments for homes if prices keep falling: BOA

Prices seen falling 30% this year as home supply rises and speculative pressure on HK$ lifts interest rates

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Homeowners with mortgages tied to the Hong Kong interbank offered rate (Hibor) may face higher borrowing costs as the one-month Hibor jumped to a three-year high of 0.277 per cent on Tuesday.

Hong Kong

HONG Kong's central bank will probably relax restrictions on downpayments for homebuyers this year should prices continue to drop, according to a Bank of America Corp (BOA) property analyst.

"It's likely to happen," Raymond Ngai, head of Greater China property research at

sentifi.com

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