Hong Kong's property owners and industry figures are accusing banks of exacerbating the downturn in the city's commercial retail sector. They contend that banks' reduced willingness to provide commercial mortgages is making it difficult for prospective buyers to secure financing, despite a significant drop in commercial property values. This reluctance to lend is reportedly turning away an increasing number of shop purchasers. This situation stands in contrast to Hong Kong's residential market, which has seen a resurgence this year, with banks actively competing for home loan customers.
Source : South China Morning Post
Photo : South China Morning Post
