Record prices of mid-sized Hong Kong flats driven by first-time buyers taking advantage of relaxed mortgage rules, say analysts

More first-time buyers have been piling in to Hong Kong’s property market, driving up the prices of mid-sized flats in out-of-town locations, according to analysts.Homes measuring between 431 sq ft and 752 sq ft soared to record-breaking prices in June as couples and young families snapped up second-hand units in areas like the New Territories, where their money goes a lot further than it does in the city.Property agents said the prices had been driven higher by a relaxation of mortgage rules…

Record prices of mid-sized Hong Kong flats driven by first-time buyers taking advantage of relaxed mortgage rules, say analysts
More first-time buyers have been piling in to Hong Kong’s property market, driving up the prices of mid-sized flats in out-of-town locations, according to analysts.Homes measuring between 431 sq ft and 752 sq ft soared to record-breaking prices in June as couples and young families snapped up second-hand units in areas like the New Territories, where their money goes a lot further than it does in the city.Property agents said the prices had been driven higher by a relaxation of mortgage rules…