RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Hong Kong's approved mortgage loans up 30.6% to $41.7b

Number of applications jumped 13.8%.

Mortgage loans approved in May rose 30.6% month-on-month to $41.7b, the Monetary Authority announced.

Mortgage loans financing primary market transactions increased 37.8% to $8.5b, while those financing secondary market transactions increased 25.6% to $21.8b. Those for refinancing increased 35.6% to $11.4b.

Mortgage loans drawn down during the month increased 33.5% to $28.3b.

The number of mortgage applications rose 13.8% to 14,825. The outstanding value of mortgage loans rose 0.7% month-on-month to $1.1506t at the end of May.

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