Mortgage loans statistics – February 2017

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) decreased whereas those of commercial real estate loans (CRELs) increased in February 2017. With regard to the outstanding balance, RMLs and CRELs both increased.

New lending approved

In February 2017, new RMLs approved by Macao banks decreased by 25.8% month-to-month to MOP2.6 billion. Of which, new RMLs to residents, accounting for 96.3% of the total, dropped 26.1% to MOP2.5 billion. The non-resident component also decreased by 15.3% to MOP96.7 million. When compared with the same period of 2016, new approvals of RMLs increased by 14.9%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 6.9% from the preceding month to MOP173.8 million. The equitable mortgage extended to residents, which accounted for 96.3% of the total, increased by 11.3% from the previous month. Attributable to the higher comparison base in the same period last year, new equitable mortgage approved dropped by 75.0% on an annual basis.

New CRELs increased by 6.0% month-to-month to MOP2.8 billion; of which, new CRELs to residents, accounting for 95.5% of the total, increased by 1.6%. On an annual basis, new approvals of CRELs grew by 5.3%.

Outstanding balances

As at end-February 2017, the outstanding value of RMLs was MOP182.4 billion, up 0.5% from the previous month or 4.8% from a year ago. The resident component made up 93.8% of the total. When compared with the previous month, outstanding RMLs to residents increased by 1.3% whereas those to non-residents decreased by 10.3%.

The outstanding value of CRELs was MOP170.3 billion, up slightly by 0.4% month-to-month or 2.5% year-on-year. Residents accounted for 90.0% of the loans. Compared with a month earlier, outstanding CRELs to residents and non-residents increased by 0.2% and 2.4% respectively.

Delinquency ratios

At the end of February 2017, the delinquency ratio for RMLs was 0.19%, virtually unchanged from a month ago but up 0.09 percentage points from a year earlier. The ratio for CRELs was 0.13%, unchanged from the preceding month but up 0.11 percentage points from end-February 2016.

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