Budget 2022-2023: Hong Kong opens funding tap to make more mortgage loans available for first-home buyers, dealing a blow to ‘nano flat’ builders

Feb 23, 2022 | INVESTING

Hong Kong’s government will raise the amount of mortgages available in home loans to help more residents in the city’s pandemic-stricken economy get on the property ladder and forestall a market slump.Starting from February 23, the available mortgages on homes with a loan-to-value ratio of 80 per cent will increase to a maximum of HK$12 million (US$1.54 million) from HK$10 million, according to the fiscal 2022/23 budget presented by Financial Secretary Paul Chan Mo-po.First-home buyers who…

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