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12/13 News Roundup: Standard Chartered Cuts Mortgage Rate to H+1.33%, City One Shatin Price Soars To One-year High

Hong Kong Property | December 13, 2016

Standard Chartered Cuts Mortgage Rate to H+1.33%
According to source of Sing Tao Daily, Standard Chartered has cut its mortgage rate to 133 basis points above the Hong Kong Interbank Offered Rate (HIBOR), for loans of at least HK$8 million, offering the cheapest loan in the city. Meanwhile, Bank of China (Hong Kong) is offering mortgage rate of 140 basis points above HIBOR for loans over HK$10 million. On the other hand, data from The Hong Kong Association of Banks showed one-month HIBOR rose to 0.58 percent, the highest level since June 2010.

City One Shatin Price Soars To One-year High
The new cooling measures are implying minor effects on small flats in the secondary market. A 304-square-foot flat with a 248-square-foot rooftop from City One Shatin was sold for HK$4.79 million or HK$15,756 per square foot. It was the highest price per square foot for a flat from the housing estate recorded over the past year, also a one-year high in transaction price of the unit type.

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