Mortgage loans statistics – April 2023
According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both decreased month-on-month in April 2023. With regard to the outstanding balances, both RMLs and CRELs witnessed declines on a monthly basis.
New lending approved
In April 2023, new RMLs approved by Macao banks dropped by 18.7% month-on-month to MOP1.55 billion. Of which, new RMLs to residents, representing 98.5% of the total, fell by 18.8% to MOP1.53 billion; the non-resident component decreased by 9.9% to MOP22.97 million. The monthly average of new RMLs approved between February and April 2023 was MOP1.56 billion, up 2.4% from the previous period (January to March 2023).
New CRELs fell by 6.0% month-on-month to MOP2.37 billion. Within this total, new CRELs to residents, which occupied 94.8% of the total, dropped by 4.7% to MOP2.24 billion; new CRELs to non-residents declined by 24.4% to MOP123.60 million. The monthly average of new CRELs approved between February and April 2023 was MOP2.15 billion, up 27.5% when compared with the previous period (January to March 2023).
Outstanding balances
As at end-April 2023, the outstanding value of RMLs was MOP235.4 billion, which dropped by 0.3% month-on-month or 2.6% year-on-year. Of which, the resident component made up 95.1% of the total. When compared with the previous month, outstanding RMLs to residents and non-residents decreased by 0.2% and 1.2% respectively.
The outstanding value of CRELs fell by 0.3% from the previous month to MOP161.6 billion, attributable to the repayment of loans with large denomination. When compared with the same period last year, the outstanding value rose by 0.6%. Of which, the resident component accounted for 93.4% of the total. Outstanding CRELs to residents declined month-on-month by 0.3% whereas those to non-residents increased by 0.8%.
Delinquency ratios
At the end of April 2023, the delinquency ratio for RMLs stood at 0.7%, which went up by 0.1 percentage point from a month ago or 0.3 percentage points over a year earlier. The ratio for CRELs was 1.5%, up by 0.4 percentage points from a month ago or 0.7 percentage points from end-April 2022.
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.