26 July 2014 - Recent figures released by the Hong Kong Monetary Authority highlight a decrease in residential mortgage loans (RMLs) that have been forced into negative equity. 30 cases were recorded at end-June 2014 compared with 81 cases at end-March 2014. The aggregate value of RMLs in negative equity decreased to HK$129 million at end-June 2014 compared with HK$345 million at end-March 2014.
Mortgage loans approved in June increased by 10.1% on May, reaching a total sum of HK$25 billion. This figure includes those financing secondary market transactions which increased by 13.4% to HK$16.7 billion. The number of mortgage applications in June increased 2.4% month-on-month with a total of 11,442 applications.
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