Hong Kong Mortgage Crisis Deepens as Negative Equity Cases Triple Amid Falling Home Prices
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Number of Hongkongers ‘under water’ on mortgages more than triples amid slumping home prices
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So-called upside down loans more than tripled to 11,123 cases in Q3 2022
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Aggregate value of negative-equity loans also more than tripled to HK$59.3 billion
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Increase reverses decline seen in first half of 2022 when cases nearly halved
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Relaxation of property curbs may boost demand but will take time for purchasing power to be unleashed