Government to implement more property measures

Measures to control potential risks in the property sector include increasing land supply and curbing speculative activities in the property market.

Financial Secretary John Tsang announced the property controls and said the mortgage repayment to household income ratio rose to 41.5% in the second quarter.

The Monetary Authority has issued a circular to banks in Hong Kong requiring them to implement a set of prudential measures for residential mortgage loans with immediate effect.

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