|Fewer HK home buyers borrowed in December
Fewer borrowers applied for home purchase loans from banks last month, data released today show. The data reflect the fall in purchases of new and secondhand apartments in the wake of new clamps including additional duties applicable to buyers.
Applications were down by nearly a third from the previous month, the Hong Kong Monetary Authority said.
Mortgage loans drawn down in December also fell by 10.8 percent compared with November to HK$18.9 billion.
Loans approved in December were down by 37.1 percent compared with November to HK$15.2 billion.
Among these, the HKMA said, mortgage loans financing primary market transactions dived by 44.7 percent to HK$3.1 billion and those financing secondary market transactions tumbled by 38.4 percent to HK$9.5 billion.
Mortgage loans for refinancing decreased by 17.4 percent to HK$2.6 billion.
The number of mortgage applications in December fell by 29.9 percent month-on-month to 7,449.
The outstanding value of mortgage loans increased month-on-month by 1.3 percent to HK$868.3 billion at end-December, the HKMA said.