Hong Kong: Negative equity rears head again
The outlook for Hong Kong's property market, the world's least affordable, has started to firm with some analysts predicting prices could rise as much as 10% Source: Flickr - Kevin Dooley - (Attribution 2.0 Generic (CC BY 2.0))
Falling prices pushed 262 homeowners into negative equity in the fourth quarter last year, marking the first time in two years that some property values have dropped below outstanding mortgage loans, the Hong Kong Monetary Authority said last Thursday.
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