July Mortgage Registrations Fall for Completed and Presale Homes
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Hong Kong recorded declines in both completed-home and presale mortgage registrations in July, according to Centaline Mortgage and Land Registry data. Completed-home mortgage registrations fell to 6,756 cases, down 23.1% from 8,785 in June, while presale mortgage registrations dropped 52.3% month on month to 433, also a three-month low. Centaline Mortgage managing director Wong Mei-fung said the retreat was driven by lower mortgage volumes in both subsidised housing and private residential markets. She added that after several active months, the property market entered a phase of slower transactions from June, although developers have recently resumed launches with encouraging sales results.
Key Points
- Completed-home mortgage registrations fell 23.1% month on month to 6,756 in July from 8,785 in June, reaching a three-month low.
- Subsidised-housing mortgage registrations dropped 43% as peak completions eased; Kam Pak Court and Yu Hing Court recorded 1,333 cases versus 2,847 for Long Tin Court and Wang Chih Court in June.
- Private residential completed-home mortgage registrations also declined, slipping 10.9% to 4,496 in July from 5,047 a month earlier.
- Presale mortgage registrations fell 52.3% month on month to 433 in July from 908 in June, likewise marking a three-month low.
- In market share, Bank of China (Hong Kong) led completed-home mortgages with 30.9%, while HSBC and Bank of China (Hong Kong) tied for first in presale mortgages at 23.6% each.
Why It Matters
For Hong Kong homebuyers and banks, the July figures point to a short-term cooling in mortgage processing after a stronger first half, especially as subsidised-housing completion peaks faded. Even so, the data also suggest that if developers’ new launches continue to sell well, mortgage demand and transaction momentum could recover in coming months.