Core Viewpoint - The Hong Kong mortgage market is showing signs of recovery, with an increase in new mortgage insurance applications and amounts, reflecting a rebound in the property market since May 2023 [1] Group 1: Mortgage Insurance Data - In July 2025, the number of new mortgage insurance applications increased by 7.7% month-on-month to 1,532 cases, marking a one-year high [1] - The total amount of new mortgage insurance also rose by 9.2% month-on-month to 7.5 billion HKD, reaching an 11-month high [1] - Conversely, the number of new mortgage insurance utilizations decreased by 10.4% month-on-month to 629 cases, with the amount dropping by 7% to 3 billion HKD, reflecting a lag in the market's response to previous downturns [1] Group 2: Average Mortgage Amount and Market Factors - The average mortgage amount for new applications slightly decreased from 4.66 million HKD in June to 4.60 million HKD in July, attributed to a policy that exempted stamp duty for properties below 4 million HKD, leading to a higher proportion of lower-priced properties in the market [1] - Positive factors for the Hong Kong property market have emerged since the second quarter of this year, including a decline in interest rates and an increase in rental prices, which have eased the financial burden of homeownership [1] - The improved economic growth and rising market confidence are expected to sustain the momentum in the property market, supporting future mortgage and insurance figures [1]

Core Insights - The number of new mortgage insurance applications in May 2025 increased slightly by 0.3% month-on-month to 612 cases, while the amount decreased by 14.2% to HKD 2.9 billion, indicating a significant drop in average mortgage amounts [1] - In the first five months of 2025, new mortgage insurance applications totaled 2,781, a decrease of 27.9% year-on-year, with a total amount of HKD 14.2 billion, down 28% from the previous year [2] - The relaxation of mortgage policies has led to a reduced reliance on mortgage insurance, with the percentage of new applications relative to total mortgages at 17.6% in May, up from 14.8% in April but significantly lower than over 30% before policy changes [3] Group 1 - The average mortgage amount for new applications fell from HKD 5.54 million in April to HKD 4.73 million in May [1] - The slight increase in the number of new applications in May is attributed to a government tax exemption for properties below HKD 4 million, which boosted transactions in lower-priced properties [1] - The total number of new mortgage insurance applications in May was 1,462, a slight decrease of 1.9% month-on-month, but the amount increased by 0.8% to HKD 7.2 billion, marking a five-month high [2] Group 2 - Factors contributing to the recovery of the property market in May include a drop in HIBOR rates, easing of the US-China trade conflict, and strong sales of new properties [2] - The total number of new mortgage insurance applications issued was 6,910, down 35.1% year-on-year, with an amount of HKD 34.7 billion, a decrease of 37% from the previous year [2] - The relaxation of mortgage policies has effectively lowered the entry barrier for homebuyers, allowing them to secure loans with a lower down payment, thus stimulating activity in the lower-priced property market [3]

智通财经APP获悉，5月12日，中原按揭董事总经理王美凤表示，根据香港按揭证券有限公司最新公布 的统计数字，2025年4月香港新取用按揭保险宗数环比增长18.4%，达到610宗；新取用按保金额环比大 幅增加30%，达到34亿港元。宗数和金额均创下过去7个月的新高。王美凤指出，今年2月财政预算案公 布后香港楼市回暖，3月迎来"小阳春"，带动月内交易大幅上升超过50%。这一情况推动4月份新批按保 量进一步增加。 综合数据显示，2025年首4个月新取用按保宗数达到2169宗，较去年同期下降17.3%；金额达到113亿港 元，较去年同期减少18.4%。期内新批出按保宗数达到5448宗，较去年同期下降35.5%，涉及金额275亿 港元，较去年同期减少36.7%。这些数字主要反映了新财政预算案公布前，尤其是去年底至今年初楼市 交易量偏软的情况。 不过，4月份新批按保量的增幅仅为10%，这可能与市场按保使用率下降有关。而4月份新取用按保主要 属于年初财政预算案公布前的申请个案。月内新取用按保中的一手物业比例由3月份的34%明显上升至 54%，相关升幅主要来自早前成交并在今年首季上会的一手新盘。2至3月份楼市的"小阳春"将带 ...

Group 1 - The core viewpoint indicates that the Hong Kong mortgage insurance market is experiencing fluctuations, with new mortgage insurance approvals increasing month-on-month but the total amount declining, reflecting a mixed sentiment in the property market [1] - In March, new mortgage insurance approvals rose by 2.5% month-on-month to 1,355 cases, marking the highest level in four months, although it remains below the 1,400 cases threshold for two consecutive quarters [1] - The total amount of new mortgage insurance fell by 5.9% month-on-month to HKD 6.6 billion, reaching a six-month low, indicating a cautious market environment [1] Group 2 - The number of new mortgage insurance applications decreased by 2.3% month-on-month to 515 cases, with the loan amount dropping by 4.7% to HKD 2.6 billion, both hitting new lows in four and two months respectively [1] - The first quarter saw a 5.4% increase in new mortgage insurance applications compared to the previous quarter, totaling 1,559 cases, but a year-on-year decline of 13.2% was noted [1] - The first quarter's new mortgage insurance approvals totaled 3,958 cases, a year-on-year decrease of 32.1%, with the total amount at HKD 20.4 billion, down 31.5% year-on-year [1] Group 3 - The recent government policy changes, including the relaxation of mortgage limits for properties under HKD 15 million, have led to a significant decrease in reliance on high loan-to-value mortgage insurance [2] - In February, the proportion of new mortgage insurance applications for residential mortgages fell to 14.4%, the lowest level since November 2019, indicating a successful impact of the relaxed mortgage policies [2] - The reduction in high loan-to-value mortgage insurance demand is seen as a positive development for the stability of the Hong Kong property market [2]