Staff Reporter
,
Hong Kong
Photo by Tierra Mallorca from Unsplash
The value of mortgage loans approved in December was $18.3b.
The value of residential mortgage loans approved in December 2023 declined 25.3% YoY to $18.3b, data from the Monetary Authority showed.
Mortgage loans financing primary market transactions dropped 16.3% to $5.2b, whilst those financing secondary market transactions dropped 5.1% to $8.9b.
In addition, refinancing loans dropped 52.6% to $4.3b.
December also saw mortgage loans drawn down drop 23.4% to $12.4b and the number of mortgage applications decline by 20.5% to 4,768.
By the end of December 2023, the outstanding value of mortgage loans fell 0.1% to $1.85t.
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