Residential mortgage loans in negative equity: End of March 2026
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority announced today (April 30) the results of its survey on residential mortgage loans (RMLs) in negative equity at end-March 2026.
The estimated number of RMLs in negative equity was 11 424 cases at end-March 2026, down by 46.4 per cent from 21 304 cases at end-December 2025. These cases were mainly related to bank staff housing loans or RMLs under mortgage insurance programme, which generally have a higher loan-to-value ratio.
The aggregate value of RMLs in negative equity decreased by 47.8per cent to HK$55 billion at end-March 2026, compared with HK$105.4 billion at end-December 2025.
The unsecured portion of these loans decreased to HK$2.8 billion at end-March 2026 from HK$6.2 billion at end-December 2025.
The three-month delinquency ratio of RMLs in negative equity remained at a low level of 0.5per cent at end-March 2026, as compared to 0.31per cent at end-December 2025.
It is important to note that the figures derived from this survey relate only to RMLs provided by authorized institutions on the basis of first mortgages and which the reporting institution knows to be in negative equity (i.e. the outstanding loan amount with the reporting institution exceeds the current market value of the mortgaged property). Not included in these figures are RMLs associated with co-financing schemes which would be in negative equity if the second mortgages were taken into account. The extent to which such RMLs are in negative equity is not known because authorized institutions do not maintain records on the outstanding balances of the second mortgages.
The mortgage portfolios of the surveyed authorized institutions represent about 99per cent of the industry total. The survey results have been extrapolated to estimate the position of the banking sector as a whole.
Source: AI-found images
Speech by SCST at opening ceremony of "The Hong Kong Jockey Club Series: Meet Mona Lisa & Portraying the Renaissance"
Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the opening ceremony of "The Hong Kong Jockey Club Series: Meet Mona Lisa & Portraying the Renaissance" today (April 30):
Consul General Christile Drulhe (Consul General of France in Hong Kong and Macau), Mr Nicholas Hunsworth (Steward of the Hong Kong Jockey Club), Ms Pansy Ho (Co-chairman of the Board of French May Arts Festival), Mrs Mignonne Cheng, (Co-Chairman of the Board of French May Arts Festival), Mr Vincent Delieuvin (Chief Curator of Italian Painting of the Sixteenth Century, Musée du Louvre), Dr Matteo Gianeselli (Curator of Musée National de la Renaissance and Art Historian), Mr Vincent Larnicol (Vice President of Grand Palais Immersif), distinguished guests, ladies and gentlemen,
Good evening. It is a great pleasure to join you here at the Hong Kong Heritage Museum for the opening of the French May Arts Festival 2026 and this magnificent exhibition, "Meet Mona Lisa and Portraying the Renaissance" - a true cornerstone of this year's Festival.
For more than three decades, the French May has been a crown jewel in Hong Kong's cultural calendar.Year after year, it brings together distinguished artists and audiences who share a deep commitment to cultural excellence from around the world, transforming our city into a vibrant living gallery. This year, under the theme "Re/naissance", I am confident that the Festival will continue to offer an energetic platform for artistic innovation and the exchange of ideas - strengthening the cultural dialogue between France and Hong Kong in unprecedented ways, and drawing visitors who come specifically to experience the rich cultural programmes.
I am particularly pleased to see the collaboration between the Culture, Sports and Tourism Bureau and this year's French May - from the Leisure and Cultural Services Department organising the Mona Lisa exhibition, to the Mega Arts and Cultural Events Fund providing funding support for various programmes. There is no doubt that this year's French May will once again embody our vision of Hong Kong as an international cultural metropolis, one that beautifully bridges different cultures.
Turning to this exhibition, the "Mona Lisa" truly needs no introduction. She is undoubtedly a highlight of this year's programme. Through the immersive digital journey specially curated by the Louvre and the Grand Palais Immersif, alongside the outstanding artworks on loan from exceptional museums and art institutions, we can step inside the frame and breathe new life into classical heritage. By bringing "Mona Lisa" to our doorstep, we are also offering our community and visitors a unique opportunity to engage with art in a way that is interactive, educational, and deeply moving.
Beyond the exhibition, another highlight to look forward to is the Sino-French Electronic Music Show, at the Central Harbourfront next week. The Show features a diverse lineup of acclaimed performers from France, the Chinese Mainland and Hong Kong. With the stunning Victoria Harbour as backdrop, this event promises world-class entertainment and an unforgettable night of great music and joyful moments. Together with more than 100 programmes and educational activities running from May through July, I am confident that this year's Festival will once again transcend cultural boundaries, advance the spirit of cultural exchange, and inspire innovation for the future.
Before I close, I wish to express my heartfelt gratitude to the French May team, the Consulate General of France in Hong Kong, and all the outstanding artists and collaborating organisations for their invaluable contributions and support. I look forward to seeing this vibrant partnership flourish in the years ahead. I wish the Festival and the exhibition every success, and everyone here a very pleasant evening. Thank you.
Source: AI-found images
