Hong Kong Mortgage Applications Decline in August 2025
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BTCCSquare news:
Hong Kong's mortgage market showed signs of cooling in August 2025, with the Hong Kong Monetary Authority reporting a 6.7% month-on-month drop in applications. Total mortgage approvals fell to HK$28.7 billion, reflecting broader economic headwinds.
The primary market saw a modest 0.7% decline in loan approvals, while secondary market transactions plummeted 11.9%. Refinancing activity bucked the trend, rising 4.1% as homeowners sought better terms.
Notably, drawdowns increased 4.5% despite the approval slowdown, suggesting lenders were processing backlogged applications. HIBOR-linked mortgages dipped to 94.4% of new loans as borrowers explored alternative financing options.
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