Mortgage loans statistics – June 2018

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

New lending approved

In June 2018, new RMLs approved by Macao banks increased by 51.2% month-to-month to MOP7.4 billion. Of which, new RMLs to residents, accounting for 63.5% of the total, decreased by 2.4% to MOP4.7 billion. Mainly attributed to the approval of enterprise loans with large loan size, the non-resident component increased to MOP2.7 billion. The monthly average of new RMLs approved between April and June 2018 was MOP5.4 billion, up by 8.2% from the previous period (March to May 2018).

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased by 37.1% from the preceding month to MOP555.5 million. The equitable mortgage extended to residents, which accounted for 98.4% of the total, dropped by 35.5% from the previous month. On an annual basis, new equitable mortgage approved fell by 23.8%.

New CRELs rose by 118.4% month-to-month to MOP6.4 billion. Within this total, new CRELs to residents, which occupied 98.3% of the total, surged by 118.0% to MOP6.3 billion, mainly driven by new enterprise loans with high denomination. Meanwhile, the non-resident component also grew to MOP112.0 million. The monthly average of new CRELs approved between April and June 2018 was MOP5.9 billion, up by 3.7% when compared with the previous period (March to May 2018).

Outstanding balances

As at end-June 2018, the outstanding value of RMLs was MOP197.5 billion, up by 2.6% from a month earlier or 6.3% from a year ago. The resident component made up 92.3% of the total. When compared with the previous month, outstanding RMLs to residents rose by 1.3% and those to non-residents also increased by 21.8%.

The outstanding value of CRELs was MOP195.0 billion, up 1.3% month-to-month or 12.9% year-on-year. Residents accounted for 89.5% of the loans. Compared with a month earlier, both outstanding CRELs to residents and to non-residents rose by 1.2% and 2.2% respectively.

Delinquency ratios

At the end of June 2018, the delinquency ratio for RMLs was 0.19%, down by 0.01 percentage point from the preceding month but up 0.03 percentage points over a year earlier. The ratio for CRELs was 0.14%, virtually unchanged from a month ago and from end-June 2017.

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