The Hong Kong government has unveiled a series of new measures aimed at bolstering the property market. These initiatives include relaxing certain mortgage requirements and reducing stamp duties for first-time homebuyers, effective immediately.
The Hong Kong government has announced a package of measures designed to support the property market, which has been facing headwinds in recent months. The new initiatives focus on easing the burden on first-time homebuyers and stimulating overall market activity.
Key Measures
- Relaxation of Mortgage Requirements: The loan-to-value (LTV) ratio for first-time homebuyers will be increased, allowing them to borrow a larger percentage of the property value.
- Reduction of Stamp Duties: Stamp duties for first-time homebuyers purchasing properties below a certain value will be reduced.
- Other Support Measures: The government is also exploring other potential measures to further stabilize the property market and ensure its long-term health.
Officials stated that these measures are intended to provide targeted support to those who need it most, while also promoting a stable and sustainable property market. The government will continue to monitor the market closely and adjust its policies as needed.