Mortgage loans statistics – October 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 October 2022. With regard to the outstanding balances, RMLs dropped whereas CRELs witnessed an increase.
New lending approved
In October 2022, new RMLs approved by Macao banks dropped by 48.8% month-to-month to MOP985.1 million. Of which, new RMLs to residents, representing 99.4% of the total, fell by 48.8% to MOP979.1 million; the non-resident component also decreased by 48.3% to MOP6.0 million. The monthly average of new RMLs approved between August and October 2022 was MOP1.52 billion, up by 5.0% from the preceding period (July to September 2022).
New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased by 57.9% month-to-month to MOP26.3 million. On an annual basis, new equitable mortgage approved dropped by 87.2%.
New CRELs advanced by 288.3% month-to-month to MOP7.28 billion. Within this total, new CRELs to residents, which occupied 99.8% of the total, expanded by 321.7% to MOP7.26 billion; new CRELs to non-residents fell to MOP15.5 million. The monthly average of new CRELs approved between August and October 2022 was MOP3.73 billion, an increase of 111.0% from the previous period (July to September 2022).
Outstanding balances
As at end-October 2022, the outstanding value of RMLs fell by 0.3% month-to-month or 1.3% year-on-year to MOP234.1 billion, attributable to the repayment of loans with large denomination. Of which, the resident component made up 94.8% of the loans. When compared with the previous month, outstanding RMLs to residents and non-residents each decreased by 0.3%.
The outstanding value of CRELs was MOP164.2 billion, which grew by 3.3% from the previous month or 3.4% from a year ago. Of which, the resident component accounted for 93.6% of the loans. Compared with a month earlier, outstanding CRELs to residents rose by 3.5% whereas those to non-residents fell by 0.5%.
Delinquency ratios
At the end of October 2022, the delinquency ratio for RMLs stood at 0.5%, which remained unchanged from a month ago but up by 0.2 percentage points over a year earlier. The ratio for CRELs stayed at 0.8% from the previous month, rising by 0.2 percentage points from end-October 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.
Detailed figures on Mortgage Loans Statistics are available on:
https://www.amcm.gov.mo/en/research-statistics/statistics-page/official-statistics-summary-page.