The Hong Kong Monetary Authority issued guidelines to banks on October 16 to revise the countercyclical macroprudential control measures applicable to property mortgage loans, with immediate effect. According to the latest revised measures, the maximum mortgage ratio for all residential properties and non-residential properties is uniform at 70%; the upper limit of the “contribution-to-income ratio” is unified at 50%. These amendments apply to property transactions with temporary sales contracts signed on or after October 16, as well as mortgage applications that have previously signed a temporary sales contract and are expected to be completed on or after October 16.

The Hong Kong Monetary Authority issued guidelines to banks on October 16 to revise the countercyclical macroprudential control measures applicable to property mortgage loans, with immediate effect. According to the latest revised measures, the maximum mortgage ratio for all residential properties and non-residential properties is uniform at 70%; the upper limit of the “contribution-to-income ratio” is unified at 50%. These amendments apply to property transactions with temporary sales contracts signed on or after October 16, as well as mortgage applications that have previously signed a temporary sales contract and are expected to be completed on or after October 16.