Mortgage loans statistics, September 2015

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) declined while commercial real estate loans (CRELs) increased in September 2015. With regard to outstanding balance, RMLs and CRELs both witnessed increases. New lending approved In September 2015, new RMLs approved by Macao banks decreased 35.3% month-to-month to MOP3.6 billion; of which, 96.7% was extended to residents. In terms of value, new RMLs to residents and non-residents decreased 2.6% and 94.1% respectively. When compared with the same period of 2014, new approvals of RMLs fell by 20.6%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased by 12.1% month-to-month to MOP1.0 billion. The equitable mortgage extended to residents, which accounted for 91.4% of the total, fell 13.7%. When compared with the same period of 2014, new RMLs collateralised by uncompleted units decreased by 13.8%. New CRELs increased by 7.8% month-to-month to MOP10.5 billion; of which, 99.5% was granted to residents. In terms of value, new CRELs to residents rose 8.2% while those to non-residents decreased 35.4%. On an annual basis, new approvals of CRELs rose by 116.9%. Outstanding balances As at end-September 2015, the outstanding value of RMLs reached MOP170.2 billion, an increase of 0.7% from one month earlier or 15.9% from a year ago. The resident component made up 94.1% of the total. Compared to end-August 2015, outstanding RMLs to residents and non-residents rose 0.7% and 0.1% respectively. Concurrently, the outstanding value of CRELs increased 2.3% from end-August 2015 and was up 33.0% from end-September 2014 to MOP153.8 billion. Residents accounted for 88.4% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew 2.6% and 0.4% respectively. Delinquency ratios At the end of September 2015, the delinquency ratio for RMLs was 0.08, down 0.01 percentage point from a month ago or up 0.01 percentage point from end-September 2014. The ratio for CRELs was 0.01, down 0.03 percentage points from a month ago or 0.07 percentage points from a year ago.