Thursday, the Hong Kong Monetary Authority said in a report that the value of new residential mortgage loans drawn down increased 42.5% month-on-month in May, compared with the 19.3% growth in the previous month.

The value of new loans drawn down increased to HK$ 15.2 billion in May from HK$ 10.6 billion in April.

At the same time, the value of new loans approved increased 28.4% to HK$ 28.1 billion.

Meanwhile, the outstanding value of mortgage loans increased by 0.8% to HK$593.8 billion in May, after rising 0.4% in April.