Residential Mortgage Survey Results for May 2023

The Hong Kong Monetary Authority announced the results of the residential mortgage survey for May 2023.

The number of mortgage applications in May increased month-on-month by 13.9% to 9,530.  

Mortgage loans approved in May increased by 20.3% compared with April to HK$42.6 billion.  Among these, mortgage loans financing primary market transactions increased by 39.9% to HK$13.5 billion and those financing secondary market transactions increased by 5.2% to HK$22.4 billion.  Mortgage loans for refinancing increased by 50.2% to HK$6.7 billion. 

Mortgage loans drawn down during May increased by 40.2% compared with April to HK$23.9 billion. 

The ratio of new mortgage loans priced with reference to HIBOR increased from 93.9% in April to 94% in May. The ratio of new mortgage loans priced with reference to best lending rates decreased from 2.9% in April to 2.8% in May.

The outstanding value of mortgage loans increased month-on-month by 0.3% to HK$1,828.9 billion at end-May. 

The mortgage delinquency ratio increased slightly to 0.07% and the rescheduled loan ratio remained unchanged at nearly 0%.

Annex

Hong Kong Monetary Authority
30 June 2023