Nearly 100 properties have foreclosed in Hong Kong, hitting a more than two-year high, as home-buyers failed to repay the mortgage despite the improving unemployment rate.

The number of foreclosures rose by 20, or 27 percent month-on-month, to 94 so far this month. Eleven of them are residential units. The total value of the foreclosures is more than HK$210 billion, based on the asking price.

Three units at Cullinan West in Sham Shui Po have become foreclosures after the mainland owner bought them at HK$123 million three years ago.

Source: The Standard (18 Dec, 2020 ) Read the Full Article

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