Mortgage loans statistics – June 2022
According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) decreased while those of commercial real estate loans (CRELs) increased in June 2022. With regard to the outstanding balances, both RMLs and CRELs witnessed declines.
New lending approved
In June 2022, new RMLs approved by Macao banks dropped by 19.8% month-to-month to MOP1.40 billion. Of which, new RMLs to residents, representing 99.3% of the total, fell by 18.8% to MOP1.39 billion; the non-resident component also decreased by 72.4% to MOP9.2 million. The monthly average of new RMLs approved between April and June 2022 was MOP1.6 billion, down by 20.8% from the previous period (March to May 2022).
New RMLs collateralised by uncompleted units (i.e. equitable mortgage) fell by 75.8% month-to-month to MOP29.8 million. On an annual basis, new equitable mortgage approved dropped by 89.8%.
New CRELs advanced by 387.3% month-to-month to MOP12.91 billion. Within this total, new CRELs to residents increased by 426.5% to MOP12.74 billion; new CRELs to non-residents decreased by 29.1% to MOP161.7 million. The monthly average of new CRELs approved between April and June 2022 was MOP5.7 billion, up by 158.0% as compared with the previous period (March to May 2022).
Outstanding balances
As at end-June 2022, the outstanding value of RMLs fell by 0.3% month-to-month but rose by 0.1% from a year earlier to MOP236.9 billion. Of which, the resident component made up 94.9% of the loans. When compared with the previous month, outstanding RMLs to residents and non-residents decreased by 0.3% and 0.2% respectively.
The outstanding value of CRELs dropped by 1.1% month-to-month or 1.4% from a year earlier to MOP158.6 billion. Residents accounted for 93.2% of the loans. Compared with a month earlier, outstanding CRELs to residents reduced by 1.3% whereas those to non-residents rose by 3.0%.
Delinquency ratios
At the end of June 2022, the delinquency ratio for RMLs stood at 0.40%, which went up by 0.03 percentage points from a month ago or 0.16 percentage points over a year earlier. The ratio for CRELs was 0.63%, down by 0.09 percentage points from a month ago but up by 0.08 percentage points from end-June 2021.
Residential mortgage loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by residential real estate in Macao. They include loans to finance purchase of residential properties and other purposes (such as refinancing loans, working capital and trade financing). Commercial real estate loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by commercial real estate in Macao. They include loans to construction companies and loans to finance property development and investment.