The estimated number of residential mortgage loans in negative equity rose to 1,432 cases at the end of March from 95 cases at the end of December, the Monetary Authority announced today.
These cases were mainly related to banks' staff housing loans and housing loans under the mortgage insurance programme.
The aggregate value of residential mortgage loans in negative equity increased to $4.9 billion at the end of March from $418 million at the end of December.
The unsecured portion of these loans increased to $195 million from $12 million during the same period.
Since the first quarter of 2011 there have been no residential mortgage loans in negative equity with delinquencies of more than three months.
