Mortgage loans statistics – May 2019

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 increased in May 2019. With regard to the outstanding balances, RMLs increased whereas CRELs witnessed decrease.

New lending approved

In May 2019, new RMLs approved by Macao banks rose by 55.5% month-to-month to MOP3.9 billion. Of which, new RMLs to residents, representing 96.4% of the total, grew by 52.0% to MOP3.8 billion; the non-resident component also increased by 309.2% from a relatively low base to MOP142.5 million. The monthly average of new RMLs approved between March and May 2019 was MOP3.3 billion, up by 27.5% from the previous period (February to April 2019).

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased month-to-month by 1.4% to MOP599.1 million; of which, the equitable mortgage extended to residents accounted for 83.6% of the total. On an annual basis, new equitable mortgage approved dropped by 32.1%.

New CRELs increased by 57.5% month-to-month to MOP7.5 billion. Within this total, new CRELs to residents, which occupied 99.3% of the total, rose by 59.8% to MOP7.4 billion. On the other hand, new CRELs to non-residents decreased by 47.9% to MOP51.5 million. The monthly average of new CRELs approved between March and May 2019 was MOP5.6 billion, up by 33.5% as compared with the previous period (February to April 2019).

Outstanding balances

As at end-May 2019, the outstanding value of RMLs was MOP221.3 billion, up by 0.8% from a month earlier or 14.3% from a year ago. The resident component made up 93.0% of the total. When compared with the previous month, outstanding RMLs to residents and non-residents rose by 0.7% and 3.0% respectively.

The outstanding value of CRELs decreased by 4.5% month-to-month or 3.7% from a year earlier to MOP187.6 billion, attributable to the repayment of loans with large denomination. Residents accounted for 93.6% of the loans. Compared with a month earlier, outstanding CRELs to residents and non-residents fell by 4.4% and 5.8% respectively.

Delinquency ratios

At the end of May 2019, the delinquency ratio for RMLs stood at 0.25%, up by 0.01 percentage point from the preceding month or 0.04 percentage points over a year earlier. The ratio for CRELs was 0.27%, up by 0.02 percentage points from a month ago or 0.13 percentage points from end-May 2018.

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