In October 2025, Hong Kong recorded 2,155 subsidized housing mortgage registrations (including Home Ownership Scheme (HOS) and other subsidized housing), a 10% decline from September's 2,403, according to data from CGS-CIMB Mortgage and the Hong Kong Land Registry. Despite the monthly dip, registrations remained above 2,000 for two consecutive months, supported by the completion of large-scale new HOS projects, enabling buyers to finalize purchases.

The Hong Kong Housing Authority expects additional HOS projects to be completed this quarter, maintaining steady subsidized housing mortgage registrations in Q4. Driven by multiple new HOS completions, this year's subsidized housing mortgage registrations have significantly outperformed last year's. Four of the first ten months saw over 2,000 HOS registrations, totaling 15,135 subsidized housing mortgage registrations year-to-date—a 76% surge from 8,589 in the same period last year. The current volume already exceeds last year’s full-year total by 51%, indicating strong positive growth for 2025.

BOC HONG KONG (02388) continues to lead Hong Kong’s subsidized housing mortgage market, capturing nearly 50% of October’s market share and retaining its top position.

Market stabilization and improved sentiment have boosted buyer confidence, also lifting secondary subsidized housing transactions. Data from CGS-CIMB Mortgage and the Housing Authority shows 288 HOS secondary market transactions in October, up 42% from September’s 203. However, year-to-date secondary HOS transactions totaled 2,783, down 28% from 3,873 in the same period in 2024. The decline is attributed to narrowing price gaps between budget private homes and HOS units, diverting some buyers to the private market.