Lawmaker Takes Loan at 18% Interest to Buy Hong Kong Property

Residential and commercial buildings are seen from Victoria Peak in Hong Kong, China, on Monday, Sept. 11, 2017. Hong Kong stocks fluctuated on Sept. 12 as automakers extended gains driven by China\'s plan to phase out fossil-fuel vehicles, while banks and property companies weighed on the benchmark index.Photographer: Billy H.C. Kwok/Bloomberg

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By Fox Hu, Shawna Kwan, and Benjamin Robertson

October 24, 2018 at 6:32 AM UTC

Updated on

October 24, 2018 at 9:58 AM UTC

This article is for subscribers only.

Just how attractive is Hong Kong property? A stock exchange filing from Tuesday evening shows that some people will continue to pay up for the chance to buy in.

Hong Kong businessman and lawmaker Peter Wong Man Kong will pay an 18 percent interest rate on one of three loans to buy a property in Deep Water Bay, an area known for luxury homes.