Negative equity cases in Hong Kong’s real-estate market hit a
new high, according to official data released on Wednesday, as elevated interest rates continued to weigh on property prices.
The number of homes whose value sank below what their owners were paying for their mortgages rose 6.1 per cent to 40,741 cases in the first quarter from the preceding period, data from the Hong Kong Monetary Authority (HKMA) showed.
The tally was the highest on record since the fourth quarter of 2003, according to mortgage brokers. https://archive.md/ljrQd