Hong Kong Mortgage Recovery Stalls, But 2025 Rebound Still On Track

Hong Kong's housing mortgage market slowed in November, new data reveals. However, strong activity earlier in the year still suggests a full recovery for 2025. Official figures from the Hong Kong Monetary Authority (HKMA) show a decline in key areas last month. Mortgage applications, which indicate buyer interest, fell 2.9% from October to 8,019. Approvals for mortgages, meaning loans banks agreed to provide, also dropped by 7%. This loss of momentum follows a period of improvement. Analysts link the earlier recovery to three main factors: lower borrowing costs, stabilized home prices, and improved market sentiment. Despite the November slowdown, the total activity for the first eleven months of 2025 remains stronger than the previous year. This points to an overall annual recovery from 2024's market slump. The HKMA data is a closely watched indicator for the health of Hong Kong's property sector.