Hong Kong Property Purchases in Mainland China Fall, Morning Post Reports

Hong Kong purchases of homes on the mainland fell 28 percent in the first half to between 7,900 to 8,900 as Chinese government restrictions damped demand, the South China Morning Post reported, citing figures from consultant Land Power International.

The Chinese government has restricted loans to real-estate developers and imposed higher interest rates and down payments for second mortgages to cool surging property prices that rose by records in some cities in the second quarter.

To contact the reporter on this story: John Duce in Hong Kong at Jduce1@bloomberg.net

• Tweet
• More
  • Business Exchange
  • Buzz up!
  • Digg
• Print
• Email