Residential Mortgage Survey Results for November 2024

The Hong Kong Monetary Authority reported a 9.7% month-on-month increase in mortgage applications to 7,995 in November 2024. Mortgage loan approvals rose by 27.7% to HK$24.2 billion, with significant increases in loans for primary market transactions (46.2%), secondary market transactions (20.3%), and refinancing (20.1%). However, mortgage loans drawn down decreased by 5.2% to HK$10.6 billion. Loans linked to HIBOR rose to 92.2%, while those tied to best lending rates fell to 2.6%. The outstanding mortgage loan value dropped slightly by 0.1% to HK$1,871 billion, with the delinquency ratio remaining low at 0.11%.

Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/12/20241231-7/