Published:
Zero negative equity for homeowners for the first time in 16 years
Thanks to the ever rising value of residential properties.
Bloomberg reports that there were zero cases of negative homeowner equity in Hong Kong in 2017 for the first time in records going back to 2001 when the de-facto central bank Hong Kong Monetary Authority began compiling the statistic.
Any propspective homebuyer will still be on solid financial ground unless property prices are to slow by a drastic 50%.
This comes as secondary home prices have climbed a whopping 313% since 2003 and analysts predict that property prices will continue their upward trajectory by another 10% in 2018.
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