Sun Hung Kai Properties offers 120% mortgages in HK

Hong Kong

SUN Hung Kai Properties Ltd, Hong Kong's largest developer by market value, is offering mortgages worth as much as 120 per cent of a home's value at one of its projects as sales have slumped in the city.

There is a catch: to qualify, buyers at Park Yoho Venezia in the city's Yuen Long district must already own another property pledged as security, according to the sales information on the development's website.