The number of residential properties listed for sale by mortgagees in Hong Kong rose 30 per cent in the third quarter to reach 262 by the end of September.
This addition of 61 properties represents the largest increase recorded since data collection began in the fourth quarter of 2022. Private residential mortgagee properties accounted for 185 of these listings, a quarter-on-quarter increase of 28 per cent. Public housing properties also saw a rise of 38 per cent, bringing that total to 77.
Roen Yeung suggested that banks might be accelerating disposals towards the end of the year, which could partly explain the rise. Centaline expects the total stock of these properties to reach approximately 300 in the fourth quarter. Kowloon saw the highest regional growth, with private residential mortgagee stock climbing 57 per cent quarter-on-quarter to 69 properties.
In other regions, private residential mortgagee stock rose by 18 per cent to 26 properties on Hong Kong Island and by 14 per cent to 90 in the New Territories. Nine private residential mortgagee properties with price tags exceeding HK$10 million were sold during the third quarter.
Two adjoining flats at Sunrise Villa in To Kwa Wan sold for HK$14.1 million, yielding a gain of about 147 per cent over the HK$5.705 million the previous owner paid in 2005. The Centaline Property Agency’s Mortgage Valuation Index dropped 5.66 points to 42.17 this week.
The index has stayed below the 50-point threshold that separates bullish from bearish sentiment for five consecutive weeks.
