According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) dropped whereas commercial real estate loans (CRELs) rose in July 2012. With regard to outstanding balance, both RMLs and CRELs witnessed increases. New Lending Approved In July 2012, new RMLs approved by Macao banks fell 5.9% month-to-month to MOP3.8 billion; of which, 94.6% was extended to residents. In terms of value, new RMLs to residents and non-residents decreased 5.4% and 13.7% respectively. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) rose 13.6% month-to-month to MOP164.9 million. The equitable mortgage extended to residents, which accounted for 94.0% of the total, rose 6.9%. New CRELs increased notably by 123.3% month-to-month to MOP4.9 billion; of which, 98.5% was granted to residents. In terms of value, new CRELs to residents surged by 140.4% whereas those to non-residents declined by 60.2% compared with the previous month. Outstanding Balances As at end-July 2012, the outstanding value of RMLs reached MOP86.2 billion, an increase of 3.1% from one month earlier. The resident component made up 92.7% of the total. Outstanding RMLs to residents and non-residents grew by 3.2% and 0.8% respectively. Concurrently, the outstanding value of CRELs rose 2.5% from end-June to MOP64.3 billion. Residents accounted for 90.4% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew by 2.7% and 0.4% respectively. Delinquency Ratios At the end of July 2012, the delinquency ratio for RMLs stood at 0.06%, down 0.01 percentage point from one month earlier. The ratio for CRELs went down 0.02 percentage points from end-June to 0.08%.
