Mortgage loans statistics, March 2015

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) decreased whereas those of commercial real estate loans (CRELs) increased in March 2015. With regard to outstanding balance, RMLs and CRELs both witnessed increases. New lending approved In March 2015, new RMLs approved by Macao banks decreased 6.3% month-to-month to MOP4.9 billion; of which, 93.6% was extended to residents. In terms of value, new RMLs to residents decreased 10.5% whereas those to non-residents increased 191.9%. When compared with the same period of 2014, new approvals of RMLs witnessed an increase of 40.5%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 89.4% month-to-month to MOP1.7 billion. The equitable mortgage extended to residents, which accounted for 90.3% of the total, increased 75.4%. When compared with the same period of 2014, new RMLs collateralised by uncompleted units increased by 1,379.5%. New CRELs rose by 106.1% month-to-month to MOP9.7 billion; of which, 97.7% was granted to residents. In terms of value, new CRELs to residents increased 179.1% whereas non-residents decreased 82.9%. On an annual basis, new approvals of CRELs rose by 3.8%. Outstanding balances As at end-March 2015, the outstanding value of RMLs reached MOP159.0 billion, an increase of 2.0% from one month earlier or 27.2% from a year ago. The resident component made up 94.1% of the total. Compared to end-February 2015, outstanding RMLs to residents and non-residents rose 1.9% and 3.1% respectively. Concurrently, the outstanding value of CRELs increased 3.5% from end-February 2015 and was up 38.3% from end-March 2014 to MOP132.2 billion. Residents accounted for 90.5% of the loans. Compared with one month earlier, outstanding CRELs to residents grew 4.3% whereas non-residents dropped 3.5% respectively. Delinquency ratios At the end of March 2015, the delinquency ratio for RMLs stood at 0.07%, down slightly from a month ago or up 0.01 percentage point from a year ago. The ratio for CRELs, at 0.06%, up slightly from a month ago or up 0.02 percentage points from end-March 2014.