HK tightens investor mortgage rules amid record prices
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Hong Kong
HONG Kong tightened mortgage lending rules, restricting the amount that banks can lend to property investors amid record home prices in the city.
Lenders should raise the discount they apply to rental income when calculating the size of an investor's mortgage to 30 per cent from 20 per cent, the Hong Kong Monetary Authority (HKMA) said in a letter posted on its website. The discount, which applies to both residential and non-residential property, should increase to 40 per cent if there's no proof of rental income, the HKMA added.
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