HONG KONG: Hong Kong has lowered the loan-to-value (LTV) ratio for home mortgages to curb the red-hot property market, the Hong Kong Monetary Authority said on Friday.
Apartments valued at between HK$10 million and HK$12 million ($1.3-1.6 million) would have their LTV ratios lowered to 50 percent. Flats valued at HK$7-10 million would be lowered to 60 percent and for those valued below HK$7 million the LTV ration would be lowered to 70 percent, HKMA Chief Executive Norman Chan told reporters.
The LTV is the percentage of a property's value that is mortgaged. ' Reuters
Apartments valued at between HK$10 million and HK$12 million ($1.3-1.6 million) would have their LTV ratios lowered to 50 percent. Flats valued at HK$7-10 million would be lowered to 60 percent and for those valued below HK$7 million the LTV ration would be lowered to 70 percent, HKMA Chief Executive Norman Chan told reporters.
The LTV is the percentage of a property's value that is mortgaged. ' Reuters
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