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HK homebuyers hit by tighter mortgages

Buyers of high-end apartments are the hardest hit

[HONG KONG] Hong Kong businessman Raymond Chiu says that he has perfect credit and is prepared to spend about HK$16 million (S$2.6 million) on a 1,000-square-foot apartment in the city's Mid-Levels residential area. There's just one catch. The government requires a 50 per cent down payment....

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