经络：预计未来香港楼市交投持续回稳 将带动住宅按揭数字逐步回升

Core Insights - The Hong Kong property market showed strong trading activity in March, leading to an increase in new mortgage approvals in April, reaching an 11-month high [1] - Major developers are launching properties at lower prices, attracting first-time buyers and investors, which is contributing to a favorable sales environment [1] - The overall market sentiment is expected to remain stable, with a gradual increase in residential mortgage numbers anticipated [1] Mortgage Statistics - In April 2025, the number of new mortgage applications was 7,795, a decrease of 661 applications (7.8%) from March's 8,456 [1] - The total amount of new mortgages approved in April was HKD 25.258 billion, an increase of HKD 5.86 billion (2.4%) from March's HKD 24.672 billion [1] - The number of new mortgages approved in April was 5,719, up by 358 (6.7%) from March's 5,361, marking the highest number in 11 months [1] Year-to-Date Performance - For the first four months of the year, new mortgage approvals totaled HKD 100.975 billion and 21,337 applications, representing an increase of HKD 13.849 billion (15.9%) and 1,632 applications (8.3%) compared to the same period last year [2] - The amount and number of new mortgage drawdowns for the same period were HKD 66.209 billion and 13,921 applications, reflecting increases of HKD 13.914 billion (26.6%) and 2,585 applications (22.8%) year-on-year [2] Refinancing Trends - In April, the amount and number of refinancing loans were HKD 2.266 billion and 576 applications, showing a decrease of HKD 698 million (23.5%) and 77 applications (11.8%) from the previous month, reaching a six-month low [2] - Year-to-date refinancing figures indicate a total of HKD 11.088 billion and 2,539 applications, down HKD 1.164 billion (9.5%) and 234 applications (8.4%) compared to the same period last year, marking a 13-year low for the first four months [2] Mortgage Ratios and Terms - The mortgage-to-value ratio in April was 62.5%, a decrease of 0.8% from the previous month [2] - The average repayment term was 319 months, down by one month, while the average mortgage amount was HKD 4.42 million, a decrease of HKD 180,000, reaching a 13-month low [2] - The selection ratio for H mortgages was 91.8%, an increase of 1.4%, while the selection ratio for P mortgages was 2.3%, a decrease of 0.9% [2]