Mortgage Loans Statistics, November 2013

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) dropped in November 2013. With regard to outstanding balance, RMLs and CRELs both witnessed increases. New Lending Approved In November 2013, new RMLs approved by Macao banks dropped 7.2% month-to-month to MOP3.0 billion; of which, 96.2% was extended to residents. In terms of value, new RMLs to residents contracted 9.9% whereas the loans to non-residents expanded notably by 283.5%. When compared with the same period of 2012, new approvals of RMLs witnessed decrease of 16.9%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 126.8% month-to-month to MOP126.2 million. When compared with the same period of 2012, this type of bank mortgage dropped 42.8%. New CRELs dropped 40.0% month-to-month to MOP3.2 billion; of which, 98.9% was granted to residents. In terms of value, new CRELs to residents and non-residents declined 39.5% and 67.4%. On an annual basis, new approvals of CRELs dropped 32.3%. Outstanding Balances As at end-November 2013, the outstanding value of RMLs reached MOP116.7 billion, an increase of 1.6% from one month earlier or 21.7% from a year ago. The resident component made up 94.7% of the total. Compared to end-October 2013, outstanding RMLs to residents and non-residents grew 1.7% and 0.3% respectively. Concurrently, the outstanding value of CRELs increased 2.1% from end-October 2013 and was up 24.9% from end-November 2012 to MOP84.4 billion. Residents accounted for 92.8% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew 2.3% and 0.5% respectively. Delinquency Ratios At the end of November 2013, the delinquency ratio for RMLs, at 0.05%, went up slightly from one month earlier but edged down from a year ago. The ratio for CRELs dropped 0.01 percentage point from end-October 2013 or 0.10 percentage point from end-November 2012 to 0.03%.