According to data, Hong Kong recorded 2,207 registered mortgage contracts for secondary private residential properties in March 2026, an increase of 253 contracts or 12.9% from the previous month. This marks the second consecutive monthly rise and represents the highest level in 33 months (nearly three years) since June 2023. The first quarter total reached 6,086 contracts, up 185 contracts or 3.1% from the previous quarter. This is the third consecutive quarterly increase, with a cumulative growth of 37.8%, reaching an 11-quarter high since the second quarter of 2023.
The rise is primarily attributed to two interest rate cuts by banks in 2025, a rebound in property prices, strong buyer interest, and active secondary market transactions, which collectively boosted mortgage demand. The secondary property market showed significant momentum around the Lunar New Year period, and it is anticipated that secondary property mortgage registrations in Hong Kong could further increase to approximately 6,500 contracts in the second quarter.
In March 2026, Hong Kong registered 5,319 building mortgage contracts (excluding pre-sale properties), a slight decrease of 28 contracts or 0.5% month-on-month. BOC HONG KONG (02388) handled 1,345 contracts, accounting for 25.3% of the total; HSBC processed 1,259 contracts, representing 23.7%; Standard Chartered handled 581 contracts, or 10.9%; Hang Seng Bank managed 562 contracts, making up 10.6%; and ICBC Asia accounted for 372 contracts, or 7.0%.
BOC HONG KONG's overall market share in building mortgages declined for the second consecutive month, with a cumulative decrease of 6.1 percentage points, falling below the 30% threshold to its lowest level in 18 months (one and a half years) since September 2024. Despite this, the bank maintained its top position for the 18th consecutive month. HSBC's market share increased for two months in a row, rising by a cumulative 1.0 percentage point to a three-month high. It held the second position for the 13th consecutive month, with the gap between its market share and BOC HONG KONG narrowing to less than 2%.
Additionally, Hong Kong recorded 18,518 building mortgage contracts in the first quarter, an increase of 2,421 contracts or 15.0% from the previous quarter, reaching a 10-quarter high since the third quarter of 2023. In March 2026, registered mortgage contracts for private residential properties totaled 4,329, up 817 contracts or 23.3% from the previous month. Among these, primary market contracts accounted for 1,407, secondary market contracts totaled 2,207, and refinancing or top-up loans numbered 555. All three categories showed increases, with primary market mortgages rising nearly 60% month-on-month, returning to above 1,000 contracts.
First-quarter mortgage registrations for private residential properties reached 13,292 contracts, an increase of 771 contracts or 6.2% from the previous quarter, marking a 10-quarter high since the third quarter of 2023. In March, registered mortgage contracts for pre-sale private residential properties totaled 421, up 135 contracts or 47.2% from the previous month, reaching a five-month high. Projects with higher registration volumes included The PAVILIA Bay III, GRAND SEASONS in Lohas Park Phase 12C, and Prodigal Bay. First-quarter pre-sale property mortgage registrations stood at 1,086 contracts, a slight decrease of 40 contracts or 3.6% from the previous quarter, but remained above 1,000 contracts for the eighth consecutive quarter.
In March, registered mortgage contracts for Home Ownership Scheme (HOS) flats, Sandwich Class Housing Scheme units, and Tenants Purchase Scheme properties totaled 830, a sharp decline of 860 contracts or 50.9% month-on-month. This marked the second consecutive monthly drop below 1,000 contracts, reaching a three-month low. Registrations were relatively higher for Ko Wang Court in Yau Tong and Shan King Estate in Tuen Mun. The decline was largely due to the completion of mortgage arrangements for new HOS flats, leading to a significant reduction in numbers. First-quarter registrations for these categories totaled 4,733 contracts, an increase of 1,686 contracts or 55.3% from the previous quarter.
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