Central Plains Mortgage: Hong Kong recorded 1,088 subsidized housing mortgage registrations in October, up 60% from month to month

The Zhitong Finance App learned that according to data from the Central Plains Mortgage Research Department and the Land Registry, Hong Kong recorded a total of 1,088 subsidized housing mortgage registrations in October (mainly homes and other subsidized housing), an increase of 60% over the previous month. The increase was mainly due to 468 mortgage registrations at Qingtaoyuan, which joined the conference in the third quarter.

Furthermore, Bank of China Hong Kong (02388) continued to rank first in the subsidized housing mortgage market with a market share of 54.6% in October, and was the champion of the monthly subsidized housing mortgage market for 15 consecutive months.

This year, the HKSAR Government further optimized secondary market mortgages for subsidized housing. The mortgage guarantee period was extended to 50 years, and the maximum mortgage term limit was also extended to 30 years, which promoted the transaction and circulation of residential housing. According to figures from the Hong Kong Housing Authority, the number of second-place transactions in April once surged 70% month-on-month to 850, but then, affected by the recovery in the property market, the number fell continuously for 6 months in May, and fell further by 4.6% to 251 in October. However, the cumulative number of transactions in the first 10 months of 2024 still increased 33% over the same period last year, with 3,835 cases recorded.