Zhongyuan Mortgage: Hong Kong's conversion registration volume in January increased by 19% month-on-month to 540 cases, reaching a six-month high.

According to data from the research department of Zhongyuan, in January of this year, there were a total of 540 cases of bank mortgage registration in Hong Kong, an increase of 19.2% compared to the previous month, marking a two-month consecutive increase and reaching a six-month high. Wang Meifeng, the General Manager of Zhongyuan Mortgage, pointed out that based on cases referred by Zhongyuan mortgage clients, mortgage refinancing applications increased by 51% in the fourth quarter of last year. The reasons for this increase include the relaxation of mortgage restrictions in the middle of last October, the rise in property valuations within the quarter, and the banks' consecutive offers of refinancing incentives, all of which have led to the recent consecutive increase in mortgage registration volume. At the same time, she stated that although the current mortgage registration volume is still relatively low compared to the past, exceeding a thousand cases, the housing prices and valuations are expected to gradually stabilize and rise this year, and the overall attitude of banks towards mortgage lending is positive, indicating an expected increase in mortgage registration volume compared to the low levels of last year. In terms of market share, in January 2025, the market share of the four major banks in refinancing reached 63.9%, a decrease of 0.8 percentage points from December 2024. Among them, the ranking of the top four banks in terms of refinancing market share remained unchanged. BOC HONG KONG (02388) maintained the top position with a market share of 25.4% (137 cases), unchanged from the previous month. HSBC's market share decreased by 1.2 percentage points to 15.4% (83 cases), ranking second. Standard Chartered Bank's market share increased by 1.8 percentage points to 13.5% (73 cases), maintaining third place. HANG SENG BANK (00011) saw a decrease of 1.4 percentage points in market share to 9.6% (52 cases), maintaining fourth place.