Hong Kong Foreclosures Surge Most in Five Years, Centaline Says
- Homeowners struggling with mortgage payments on higher rates
- Supply of such property rise to 246 under Centaline commission
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Hong Kong July foreclosures surged the most in more than five years, as higher rates pinched homeowners’ ability to pay mortgages, according to Centaline Property Agency Co.
The number of homes taken over by creditors in Hong Kong last month increased by 45 units to 246 from June, based on units commissioned by Centaline.