According to the information obtained by the Intelligence Finance and Economics APP, based on the latest data from the Mortgage Referral Research Department and the Hong Kong Land Registry, the number of mortgage cases for existing buildings in Hong Kong in October this year was 3933 cases, a decrease of 10 cases (0.3%) from September's 3943 cases, falling for three consecutive months, reaching a new low in 5 months. The number of mortgage cases for new properties in October was 548 cases, a monthly decrease of 20 cases or 3.5%.

Compared to the same period last year, the number of mortgage deeds for existing buildings decreased by 1,017 (20.5%); while the number of mortgage deeds for newly built properties increased by 463 (544.7%).

Comparing the first 10 months of the year, the number of mortgage cases for existing buildings in the first 10 months of this year reached 43,240 cases, a year-on-year decrease of 22,355 cases (34.1%), reaching a new low for the first 10 months since records began in 2001. The number of mortgage cases for new properties in the first 10 months of this year was 3606 cases, an increase of 2255 cases (166.9%) compared to the same period last year.

Cao Deming, Deputy CEO of Mortgage Referral, mentioned that in October, the buying interest from new projects like SEASONS PLACE and Novo Land continued to provide support for the stability of mortgage cases for new properties. With interest rate cuts by Hong Kong banks and the introduction of various housing policies in the policy address, the market sentiment is turning positive. Developers are also accelerating the pace of new project launches, expecting trading volumes to stabilize, leading to a hopeful stabilization of mortgage cases for existing buildings.

Regarding the market share of mortgage cases for existing buildings, Bank of China Hong Kong (02388) moved up a level, ranking first with a market share of 27.2%, while HSBC dropped a level to rank second with a market share of 27.1%; Hang Seng Bank (00011) ranked third with a market share of 10.8%; Standard Chartered Bank rose by 6 levels, tied with Industrial and Commercial Bank of China (Asia) ranking fourth with a market share of 4.2%; Bank of East Asia ranked fifth with a market share of 3.9%.

In terms of market share of mortgage cases for new properties, HSBC maintained the top spot for the seventh consecutive time, ranking first with a market share of 35.8%; Bank of China Hong Kong rose by one level to rank second with a market share of 13.5%; Industrial and Commercial Bank of China (Asia) dropped a level to rank third with a market share of 10.8%; followed closely by Bank of East Asia (8.6%) and Hang Seng Bank (7.1%).

In October this year, the market share of the four major banks in the real estate market increased by 9.7% from the previous month's 59.5% to 69.2%, reaching a new high in 6 months. Cao Deming stated that the banks have shifted their attitude towards mortgage business to be more proactive. In addition to speeding up the mortgage approval process, some banks have also resumed mortgage money market rebates, and major banks have introduced low-interest fixed mortgage plans to attract customers.