Sept. 28 (Bloomberg) -- Hong Kong developers may offer property buyers secondary financing to counter government market-cooling efforts that have cut transactions by about a third, the city's two biggest real-estate brokers said.
Cheung Kong Holdings Ltd., the builder controlled by billionaire Li Ka-shing, is providing buyers at its Oceanaire project in the Ma On Shan district in the city's north with as much as 10 percent additional financing on top of their bank mortgages, the company said in a Sept. 21 statement.
Home transactions in the city have contracted about 33 percent since Aug. 13 when the government raised down-payment ratios and pledged to increase land supply to rein in home prices, according to Centaline Property Agency Ltd. The government has said it may introduce more measures to curb home values that have surged about 47 percent in 21 months to the highest since the last peak in 1997.
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