Mortgage loans statistics – April 2018

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

New lending approved

In April 2018, new RMLs approved by Macao banks decreased by 35.4% month-to-month to MOP4.0 billion. Of which, new RMLs to residents, accounting for 98.3% of the total, fell by 15.9% to MOP3.9 billion while the non-resident component dropped 95.4% from a high base in the previous month to MOP69.4 million. The monthly average of new RMLs approved between February and April 2018 was MOP4.2 billion, up by 2.8% from the previous period (January to March 2018).

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 29.6% from the preceding month to MOP666.9 million. The equitable mortgage extended to residents, which accounted for 98.1% of the total, rose by 30.5% from the previous month. On an annual basis, new equitable mortgage approved grew by 77.0%.

New CRELs rose by 44.4% month-to-month to MOP8.4 billion, mainly driven by new loans granted to enterprises collateralised by commercial buildings. The monthly average of new CRELs approved between February and April 2018 was MOP7.0 billion, down by 18.0% when compared with the previous period (January to March 2018).

Outstanding balances

As at end-April 2018, the outstanding value of RMLs was MOP191.4 billion, up by 0.5% from a month earlier or 4.4% from a year ago. The resident component made up 93.5% of the total. When compared with the previous month, outstanding RMLs to residents rose by 0.5% whereas those to non-residents decreased by 0.8%.

The outstanding value of CRELs was MOP190.9 billion, up 1.7% month-to-month or 12.6% year-on-year. Residents accounted for 89.5% of the loans. Compared with a month earlier, outstanding CRELs to residents rose by 2.0% whereas those to non-residents fell by 0.8%.

Delinquency ratios

At the end of April 2018, the delinquency ratio for RMLswas 0.20%, virtually unchanged from a month ago but up 0.04 percentage points over a year earlier.The ratio for CRELs was 0.14%, unchanged from the preceding month but up 0.01 percentage point from end-April 2017.

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