Hong Kong Buyers Flock to Secure Mortgages Ahead of Anticipated Rate Hikes

Buyers in Hong Kong have snapped up over 290 new flats launched by developers over the weekend, as they look to secure mortgages ahead of an anticipated rise in interest rates. The move comes despite major banks holding their rates steady after the US Federal Reserve's recent rate increase.

Derek Chan Hoi-chiu, head of research at Ricacorp Properties, noted that a notable number of home seekers are actively entering the market to secure properties ahead of anticipated local rate increases.