Hong Kong’s Negative-Equity Mortgages Triple to 11,100 Cases
- The value of such loans also rose to HK$59.3 billion
- Negative-equity loans account for about 3% of outstanding ones
Apartments in Hong Kong.
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The number of negative-equity mortgages in Hong Kong more than tripled in September, a sign of continued weakness in the city’s property market.
The estimated number of residential mortgage loans that are in negative equity increased to more than 11,100 cases as of the end of September, from 3,341 cases in June, according to statistics from the Hong Kong Monetary Authority on Tuesday. The values of such loans also tripled to HK$59.3 billion ($7.6 million) in the same period.