HK Negative Equity Mortgages Rise 15 Times, Value 12 Times

Bloomberg: Hong Kong Negative Equity Mortgages Jump 15 Times as Prices Drop
The number of Hong Kong homeowners with apartments worth less than their mortgages surged 15 times in the first quarter, according to the Hong Kong Monetary Authority.

The number of negative-equity mortgages rose to 1,432, with a total value of HK$4.9 billion ($634 million), for the three months ended March, from 95 such home loans worth HK$418 million in the previous quarter, the city’s de facto central bank said on its website Friday.
A stark contrast to what was going on in Shenzhen at the time.

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