以首1个月比较，今年1月新批出按保贷款宗数及金额比去年同期的1281宗及66.66亿港元下跌181宗 (14.1%)及7.26亿港元(10.9%)，宗数及金额分别创近10年及7年的首月新低。而1月新取用按保贷款宗数 及金额比去年同期的517宗及25.88亿元减少57宗(11%)及2.32亿港元(9%)，宗数及金额分别创近10年及7 年的首月新低。 经络按揭转介首席副总裁曹德明表示，目前香港所有住宅物业，银行可提供的按揭成数上限统一为七 成，即置业人士无需申请按揭保险，亦可承造最高七成按揭，导致按保需求持续回落。另一方面，去年 整体投资气氛有所升温，市场大手成交亦显著增加，这类投资买家亦不会选用按保。在按保需求大幅减 少的情况下，预计今年按保数字将继续低位横行。 智通财经APP获悉，根据经络按揭转介研究部及香港按揭证券有限公司最新资料显示，2026年1月份新 批出按揭保险计划贷款宗数及金额为1100宗及59.4亿港元，较2025年12月份的1040宗及55.53亿港元，分 别增加60宗(5.8%)及3.87亿港元(7%)，均连跌5个月后回升。 2026年1月份新取用按揭保险计划贷款宗数及金额为460宗及23.5 ...

智通财经APP获悉，中原按揭董事总经理王美凤表示，根据香港按揭证券公司最新公布的数据，2026年 1月香港新取用按揭保险宗数环比下降8.7%至460宗，创自2018年11月后逾7年(86个月)新低，金额亦下 降7.1%至23.6亿港元。同期新批按揭保险宗数虽环比回升5.8%至1100宗，但仍处于自2019年1月后的7 年低位，金额环比升7%至59.4亿港元，同样处于6年半低位。 王美凤指出，与2025年同期比较，2026年1月份新取用按保宗数同比减少11%，金额同比减少9%，新批 按保宗数及金额则分别同比减少14.1%及10.9%。数字回落主要因为按揭成数已全面放宽，置业人士对 高成数按揭保险的需求减少；加上投资客入市比例增加，而这类买家并非按保用家，进一步令按保数字 在低位徘徊。 1月份按保数字主要反映2025年第四季市况，整体楼市在第四季交投向好，但按揭保险使用比例持续处 于低水平。王美凤分析，基于楼按政策已全面放宽至七成按揭，买家以低至三成首期置业已无需透过按 保，大大降低了对高成数按揭保险的依赖，令大部份置业人士无需支付按保保费已可顺利上会，减轻了 置业成本。 数据显示，按保使用比例已由放宽前逾30% ...

Core Insights - The mortgage insurance market in Hong Kong is experiencing a significant decline in both the number of new applications and the total amount insured, attributed to a decrease in demand for high loan-to-value (LTV) mortgage insurance as LTV ratios have been relaxed [1][2] Group 1: Mortgage Insurance Trends - In November 2025, the number of new mortgage insurance applications fell by 10.1% month-on-month to 560, with the total amount decreasing by 9.9% to HKD 2.8 billion [1] - The number of new mortgage insurance applications for the same period dropped by 8.6% month-on-month to 1,068, marking the lowest level in over seven years, with the total amount down 6.7% to HKD 5.6 billion [1] - The overall mortgage insurance usage ratio has decreased from over 30% before the policy relaxation to an average of about 15% this year [1] Group 2: Market Dynamics - The overall property market showed improved transaction activity in the fourth quarter, but the usage of mortgage insurance remains low [1] - The increase in the proportion of investment buyers, who typically do not require high LTV mortgage insurance, has contributed to the low penetration rate of mortgage insurance in the overall mortgage market [1] - For the first 11 months of 2025, new mortgage insurance applications totaled 6,594, a decline of 25.2% compared to the same period in 2024, with the total amount insured at HKD 32.7 billion, down 27.7% year-on-year [2]

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]

Core Insights - The Hong Kong mortgage insurance market is experiencing a significant increase in both the number of new applications and the total amount insured, indicating a recovery in the real estate market following the announcement of the fiscal budget [1][2] Group 1: Mortgage Insurance Statistics - In April 2025, the number of new mortgage insurance applications increased by 18.4% month-on-month, reaching 610 applications, while the total amount insured surged by 30% to HKD 3.4 billion, marking a seven-month high for both metrics [1] - The number of new mortgage insurance applications has risen for four consecutive months, with April's figures reaching 1,490 applications, a 10% month-on-month increase and the highest in eight months [1] - The total loan amount associated with new applications grew by 7.4% to HKD 7.1 billion, also a six-month high [1] Group 2: Market Trends and Influences - The increase in mortgage insurance applications is attributed to a recovery in the Hong Kong property market following the fiscal budget announcement, with a notable rise in transactions exceeding 50% in March [1] - The proportion of new mortgage insurance applications for first-hand properties rose significantly from 34% in March to 54% in April, driven by earlier transactions of new developments [1] - Despite the positive trends in April, the overall number of new mortgage insurance applications for the first four months of 2025 was 2,169, a decrease of 17.3% compared to the same period last year, with the total amount insured at HKD 11.3 billion, down 18.4% year-on-year [2]

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]