It is expected to drum up sales.
Hong Kong two largest property agencies, Midland Realty and Centaline Property Agency, are offering “zero down payment” schemes to existing home owners in a bid to drum up sales, a move that challenges the Hong Kong Monetary Authority tightening mortgage policy, which is intended to temper soaring property prices.
According to a report from South China Morning Post, mReferral Mortgage Brokerage Services, a unit of Hong Kong-listed Midland Holdings, will lend up to 130 per cent of the value of a flat, up to a maximum of HK$20 million, through financial institutions from Tuesday.
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