Meridian: The Hong Kong property market is in the consolidation phase, and the margin figures plummeted to a new low of more than ten and a half years in October

The Zhitong Finance App learned that, according to the latest data from Meridian Mortgage Referral Research Division and Hong Kong Mortgage Securities Limited, the number and amount of new mortgage insurance plan loans approved in October 2026 was 701 and $3,867 billion (HKD, same below), a decrease of 17 cases (2.4%) compared with 718 and $3.825 billion in September, falling for 4 consecutive months and hitting a new low of more than a decade and a half. The amount increased slightly by $0.42 million (1.1%).

The number and amount of new mortgage insurance plan loans drawn down in October 2026 was 245 and $1,297 million. Compared with 413 and $2,304 billion in September, the number and amount decreased by 168 cases (40.7%) and 1.07 billion yuan (43.7%) respectively. The number and amount both fell for 2 months. The number of cases hit a new low of more than ten and a half years, and the amount hit a new low of ten and a half years; in addition, the average amount of newly withdrawn mortgage loans was $5.29 million, a decrease of $280,000 (5.1%) over the previous month; in addition, among the newly acquired mortgage cases, one property in one The proportion is 11%, and the share of second-hand properties is 89 %

Compared with the first 10 months, the number and amount of new mortgage loans approved in the first 10 months of this year was 10,408 and $56.968 billion, down 3,250 (23.8%) and $11.4 billion (16.7%) respectively from 13,658 and $68.368 billion in the same period last year. The number and amount of cases and amounts hit new lows in the first 10 months of nearly 11 and 10 years, respectively. The number and amount of new mortgage loans drawn down in the first 10 months was 4678 and $25.035 billion, compared with 6034 and $29.853 billion in the same period last year, a decrease of 1,356 cases (22.5%) and $4.818 billion (16.1%) respectively. The number and amount hit new lows in the first 10 months of the past 11 years and 10 years, respectively.

Cao Deming, chief vice president of Meridian Mortgage Referral, said that the property market is in the consolidation stage, affecting mortgage application numbers. In addition to all current residential properties, the maximum mortgage ratio that banks can provide is uniform at 70%. Buyers do not need to apply for mortgage insurance, and can also take out up to 70% of mortgages. As a result, mortgage insurance figures plummeted in October, hitting a new low of more than ten and a half years. Since the upper limit of bank mortgage ratio has been relaxed to 70%, up to 50% of the cases in October applying for private residential mortgages through meridian mortgage referrals, up to 50% of customers borrowed 70% of their non-secured mortgages. With a sharp decline in mortgage demand, it is expected that the fourth quarter mortgage figures will continue to be low.