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Mortgage loans statistics – December 2018

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both rose in December 2018. With regard to the outstanding balance, both RMLs and CRELs witnessed monthly increases.

New lending approved

In December 2018, new RMLs approved by Macao banks increased by 2.2% month-to-month to MOP3.7 billion. Of which, new RMLs to residents, accounting for 97.0% of the total, rose by 0.2% to MOP3.6 billion; the non-resident component also increased from a relatively low base in the previous month to MOP110.6 million. The monthly average of new RMLs approved between October and December 2018 was MOP3.5 billion, down by 36.1% from the previous period (September to November 2018).

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) rose by 147.2% month-to- month to MOP1.2 billion; of which, the equitable mortgage extended to residents accounted for 92.5% of the total. On an annual basis, new equitable mortgage approved soared by 268.5% from a relatively low base.

New CRELs rose 96.7% month-to-month to MOP5.5 billion. Within this total, new CRELs to residents, which occupied 99.1% of the total, surged by 107.2% to MOP5.5 billion, mainly driven by new enterprise loans with high denomination. On the other hand, new CRELs to non-residents dropped by 69.3% to MOP51.5 million. The monthly average of new CRELs approved between October and December 2018 was MOP3.9 billion, up by 23.5% while compared with the previous period (September to November 2018).

Outstanding balances

As at end-December 2018, the outstanding value of RMLs was MOP215.7 billion, up by 1.1% from a month earlier or 13.9% from a year ago. The resident component made up 92.7% of the total. When compared with the previous month, outstanding RMLs to residents and non-residents rose by 1.2% and 0.1% respectively.

The outstanding value of CRELs was MOP198.3 billion, up by 2.2% month-to-month or 11.0% from a year earlier. Residents accounted for 93.4% of the loans. Compared with a month earlier, outstanding CRELs to residents increased by 2.4% while those to non-residents fell by 0.5%.

Delinquency ratios

At the end of December 2018, the delinquency ratio for RMLs was 0.16%, unchanged from the preceding month but down by 0.02 percentage points over a year earlier. The ratio for CRELs stayed at 0.15% from a month ago but up by 0.01 percentage point from end-December 2017.

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