Mortgage loans statistics, February 2015

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) increased whereas those of commercial real estate loans (CRELs) decreased in February 2015. With regard to outstanding balance, RMLs and CRELs both witnessed increases. New lending approved In February 2015, new RMLs approved by Macao banks increased 37.8% month-to-month to MOP5.3 billion; of which, 97.9% was extended to residents. In terms of value, new RMLs to residents increased 39.6% whereas those to non-residents decreased 15.7%. When compared with the same period of 2014, new approvals of RMLs witnessed an increase of 106.9%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 168.2% month-to-month to MOP905 million. The equitable mortgage extended to residents, which accounted for 97.5% of the total, increased 161.6%. When compared with the same period of 2014, new RMLs collateralised by uncompleted units increased by 555.6%. New CRELs dropped by 1.8% month-to-month to MOP4.7 billion; of which, 72.1% was granted to residents. In terms of value, new CRELs to residents decreased 21.6% whereas non-residents increased 182.7%. On an annual basis, new approvals of CRELs dropped by 37.3%. Outstanding balances As at end-February 2015, the outstanding value of RMLs reached MOP155.9 billion, an increase of 0.9% from one month earlier or 27.5% from a year ago. The resident component made up 94.2% of the total. Compared to end-January 2015, outstanding RMLs to residents and non-residents rose 1.0% and 0.6% respectively. Concurrently, the outstanding value of CRELs increased 1.0% from end-January 2015 and was up 41.0% from end-February 2014 to MOP127.8 billion. Residents accounted for 89.8% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew 0.5% and 6.1% respectively. Delinquency ratios At the end of February 2015, the delinquency ratio for RMLs increased to 0.08%, up 0.01 percentage point from a month ago or 0.03 percentage points from a year ago. The ratio for CRELs, at 0.06%, was virtually unchanged from a month ago or up 0.01 percentage point from end-February 2014.