Residential Mortgage Survey Results for October 2024

The Hong Kong Monetary Authority’s October 2024 residential mortgage survey revealed a 46.5% month-on-month increase in mortgage applications, reaching 7,289. Mortgage loans approved rose 9.5% to HK$19 billion, with loans for secondary market transactions up 14% and refinancing up 21.2%, while primary market financing decreased by 2.4%. Mortgage loans drawn down fell 26.9% to HK$11.2 billion. HIBOR-linked mortgage loans rose to 89.2%, while those linked to best lending rates fell to 3.6%. The total outstanding mortgage loan value remained steady at HK$1,872.8 billion, with a low delinquency rate of 0.12% and stable rescheduled loans near 0%.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/11/20241129-5/