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
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 BOA's Merrill Lynch unit, said at a news briefing on Tuesday. "Prices have fallen 8 per cent since September and with another 5 to 10 per cent drop you may see the HKMA relax restrictions," he said, referring to the Hong Kong Monetary Authority.
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