Mortgage loans statistics – July 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 fell in July 2019. With regard to the outstanding balances, RMLs increased whereas CRELs witnessed a decrease.

New lending approved

In July 2019, new RMLs approved by Macao banks dropped by 21.0% month-to-month to MOP4.8 billion. Of which, new RMLs to residents, representing 98.6% of the total, decreased by 21.0% to MOP4.7 billion; the non-resident component also fell by 22.2% to MOP67.1 million. The monthly average of new RMLs approved between May and July 2019 was MOP4.9 billion, up by 17.8% from the previous period (April to June 2019).

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased month-to-month by 34.0% to MOP306.6 million. On an annual basis, new equitable mortgage approved dropped by 51.3%.

New CRELs fell by 33.3% month-to-month to MOP2.75 billion. Within this total, new CRELs to residents, which occupied 98.8% of the total, dropped by 32.3% to MOP2.71 billion; new CRELs to non-residents also reduced by 69.3% to MOP33.4 million. The monthly average of new CRELs approved between May and July 2019 was MOP4.8 billion, down by 12.3% as compared with the previous period (April to June 2019).

Outstanding balances

As at end-July 2019, the outstanding value of RMLs was MOP225.6 billion, up by 0.6% from a month earlier or 12.3% from a year ago. Of which, the resident component made up 93.2% of the total. When compared with the previous month, outstanding RMLs to residents increased by 0.8% whereas those to non-residents dropped by 1.8%.

The outstanding value of CRELs decreased by 4.0% month-to-month or 8.1% from a year earlier to MOP183.6 billion, attributable to the repayment of loans with large denomination. Residents accounted for 93.4% of the loans. Compared with a month earlier, outstanding CRELs to residents decreased by 4.3% whereas those to non-residents increased by 0.3%.

Delinquency ratios

At the end of July 2019, the delinquency ratio for RMLs stood at 0.22%, unchanged from a month ago but up by 0.03 percentage points over a year earlier. The ratio for CRELs was 0.30%, up by 0.02 percentage points from a month ago or 0.16 percentage points from end-July 2018.

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