Mortgage loans statistics – October 2024
According to statistics released today (12 December) 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 October 2024. With regard to the outstanding balances, both RMLs and CRELs witnessed declines on a monthly basis.
New lending approved
In October 2024, new RMLs approved by Macao banks fell by 57.4% month-on-month to MOP1.30 billion. Among them, new RMLs to residents, representing 95.9% of the total, decreased by 58.5% to MOP1.24 billion; the non-resident component increased by 8.7% to MOP52.89 million. The monthly average of new RMLs approved between August and October 2024 was MOP1.87 billion, up 0.6% from the previous period (July to September 2024).
New CRELs decreased by 37.9% month-on-month to MOP642.21 million. Among them, new CRELs to residents, which occupied 98.0% of the total, fell by 33.4% to MOP629.35 million; new CRELs to non-residents dropped by 85.5% to MOP12.85 million. The monthly average of new CRELs approved between August and October 2024 was MOP876.80 million, down 32.7% when compared with the previous period (July to September 2024).
Outstanding balances
As at end-October 2024, the outstanding value of RMLs was 219.52 billion, which fell by 0.3% from the preceding month or 5.0% from a year ago; of which, the resident component made up 96.6%. When compared with the previous month, outstanding RMLs to residents and non-residents dropped by 0.2% and 2.2% respectively.
The outstanding value of CRELs fell by 0.6% month-on-month or 5.1% year-on-year to MOP152.14 billion, attributable to the repayment of loans with large denomination. Among them, the resident component made up 92.0%. When compared with the previous month, outstanding CRELs to residents and non-residents fell by 0.7% and 0.2% respectively.
Delinquency ratios
At the end of October 2024, the delinquency ratio for RMLs stood at 3.4%, which kept virtually unchanged from a month ago but up 2.6 percentage points over a year earlier. The ratio for CRELs was 5.1%, down 0.2 percentage points from a month ago but up 2.7 percentage points from end-October 2023.
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.