Finished homes generate highest number of mortgages in two years

Mortgages for completed homes in Hong Kong surged 22.1 percent month-on-month to 6,629 in August, marking the highest level since August 2023, according to data from Centaline Mortgage.

The growth had been driven by strong market activity in recent months, with completed-home mortgages exceeding 5,000 instances in each month from June through August.

In contrast, mortgages for presale properties dropped 52.6 percent from July to 376 – a three-month low.

Ivy Wong Mei-fung, managing director of Centaline Mortgage, said that despite the recent rise in the interbank rate, the local property market has stabilized and is showing positive momentum, which is expected to sustain strong transaction activity and support mortgage registration numbers in the coming months.

STAFF REPORTER