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HK End-4Q25 Estimated No. of RMLs in Negative Equity Down 10,000+ Cases QoQ to 21,304 Cases
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The Hong Kong Monetary Authority (HKMA) announced the results of its survey on residential mortgage loans (RMLs) in negative equity at end-December 2025.

The estimated number of RMLs in negative equity was 21,304 cases at end-December 2025, down by 10,145 cases or 32.3% as compared to 31,449 cases at end-September 2025. These cases were mainly related to bank staff housing loans or RMLs under mortgage insurance program, which generally have a higher loan-to-value ratio.

The aggregate value of RMLs in negative equity decreased to HK$105.4 billion at end-December 2025 compared with HK$156.8 billion at end-September 2025.
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