After the tightening of credit conditions for mortgage lending volume in Hong Kong has dropped significantly. In October, there were loans of about $ 1.7 billion, which, according to Hong Kong Monetary and Financial Control, 40% less than last year, and by 5.9% - than in the previous month. Centaline Property Agency notes that housing prices in Hong Kong have fallen by at least 22% compared to March, while the number of people whose homes are worth less than the outstanding loans has more than doubled. While interest rates have reached their annual maximum, and growing unemployment Thus, HSBC Holdings company, which has the largest network of banks in the city this month cut 500 jobs in Asia, most of them - in Hong Kong. Both of these factors negatively affect the prospects for mortgage lending.
