HONG KONG: Hong Kong housing is at risk of becoming the least affordable in 24 years, as rate hikes by the US Federal Reserve drive up borrowing costs in the Asian financial hub.
The percentage of monthly household income used for mortgage repayments in Hong Kong could reach 60.1%, the least affordable level since 1998, if mortgage rates rise to 3.5%, according to Bloomberg Intelligence.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
