On October 16, the Hong Kong Monetary Authority issued guidelines to banks to revise countercyclical macroprudential control measures applicable to property mortgage loans. After the revision, the maximum mortgage ratio for all residential and non-residential properties was uniform at 70%, and the “contribution-to-income ratio” limit was uniform at 50%. Yu Weiwen, Chief Executive of the Hong Kong Monetary Authority, said, “The HKMA has now decided to revise the countercyclical macroprudential supervision measures for property mortgage loans in response to market developments to return the maximum mortgage ratio and the upper limit of the 'contribution to income ratio' to the level before countercyclical measures began to be implemented in 2009. Even with the measures announced today, the Hong Kong banking system still has sufficient buffers to meet the challenge of a drastic adjustment in property prices. I would like to remind the public once again that buying a home is a long-term undertaking. When making a decision to buy a property, you should carefully assess the risks and do what you can.”

On October 16, the Hong Kong Monetary Authority issued guidelines to banks to revise countercyclical macroprudential control measures applicable to property mortgage loans. After the revision, the maximum mortgage ratio for all residential and non-residential properties was uniform at 70%, and the “contribution-to-income ratio” limit was uniform at 50%. Yu Weiwen, Chief Executive of the Hong Kong Monetary Authority, said, “The HKMA has now decided to revise the countercyclical macroprudential supervision measures for property mortgage loans in response to market developments to return the maximum mortgage ratio and the upper limit of the 'contribution to income ratio' to the level before countercyclical measures began to be implemented in 2009. Even with the measures announced today, the Hong Kong banking system still has sufficient buffers to meet the challenge of a drastic adjustment in property prices. I would like to remind the public once again that buying a home is a long-term undertaking. When making a decision to buy a property, you should carefully assess the risks and do what you can.”