Mortgage loans statistics – November 2022
According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) rose whereas those of commercial real estate loans (CRELs) decreased in November 2022. With regard to the outstanding balances, RMLs dropped whereas CRELs witnessed an increase.
New lending approved
In November 2022, new RMLs approved by Macao banks advanced by 40.9% month-to-month to MOP1.39 billion. Of which, new RMLs to residents, representing 99.5% of the total, grew by 41.0% to MOP1.38 billion; the non-resident component increased by 20.7% to MOP7.3 million. The monthly average of new RMLs approved between September and November 2022 was MOP1.43 billion, down by 6.1% from the previous period (August to October 2022).
New CRELs decreased by 80.8% from the relatively high base last month to MOP1.40 billion. Within this total, new CRELs to residents, which occupied 93.1% of the total, fell by 82.1% to MOP1.30 billion; new CRELs to non-residents grew to MOP96.8 million. The monthly average of new CRELs approved between September and November 2022 was MOP3.52 billion, a decrease of 5.8% from the previous period (August to October 2022).
Outstanding balances
As at end-November 2022, the outstanding value of RMLs fell by 0.1% month-to-month or 2.2% year-on-year to MOP233.9 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 remained unchanged whereas those to non-residents dropped by 0.3%.
The outstanding value of CRELs was MOP165.0 billion, which grew by 0.5% 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 and non-residents rose by 0.5% and 0.7% respectively.
Delinquency ratios
At the end of November 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-November 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.