28 June 2014 - The secondary residential market turned active in May upon the easing of recent government measures. The new monthly mortgage loans drawn rose by 17.7% to 5,494 cases, involving a total amount of HKD22.749 billion. The industry believes that brand new properties will become the focus of the mortgage market in June, and expect the number of new mortgages may double.
The HKMA announced that the amount of newly granted mortgage loans increased by 15.8% in value on a monthly basis, to HKD22.749 billion, at the same time secondary market transactions involving loans granted increased over 30% to HKD14.7 billion, reflecting the pick up in the secondary market, and the refinancing of Exchange approved loans which also increased by more than 10% (to HKD3.407 billion). The number of new applications for mortgage loans increased by 22.1% on a monthly basis to 11,175 cases, the highest since January 2013.
Photo credit: HKMA
