Mortgage loans increased 11.3% in December.

By bne IntelliNews January 25, 2011
Hong Kong's new mortgage loans increased by 11.3% and reached HKD 31bn as compared to November. As reported by news.gov.hk, according to figures released by the Monetary Authority, new loans approved, however, reduced by 23% to HKD 28.9bn in December. The approvals for secondary market transactions was reduced by 22.2% to HKD 5.6bn, and those for refinancing transactions fell by 18.2% to HKD 1.6bn. The approvals for primary market transactions were dropped by 41.2% to SKD 1.4bn. The number of new applications declined by 37.5% to 14,416, which reflected the market situation following the November 19 announcement of the measures the Government introduced Government in respect of the property market and by the Monetary Authority in relation to authorized institutions' risk management of their property-related lending.

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