Mortgage loans statistics, May 2015

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) declined in May 2015. With regard to outstanding balance, RMLs and CRELs both witnessed increases. New lending approved In May 2015, new RMLs approved by Macao banks decreased 14.5% month-to-month to MOP3.7 billion; of which, 96.3% was extended to residents. In terms of value, new RMLs to residents and non-residents decreased 13.0% and 41.8% respectively. When compared with the same period of 2014, new approvals of RMLs witnessed a decrease of 38.4%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased by 79.1% month-to-month to MOP0.3 billion. The equitable mortgage extended to residents, which accounted for 93.0% of the total, decreased 78.6%. When compared with the same period of 2014, new RMLs collateralised by uncompleted units decreased by 62.2%. New CRELs dropped by 55.4% month-to-month to MOP4.1 billion; of which, 88.4% was granted to residents. In terms of value, new CRELs to residents and non-residents decreased 53.6% and 65.6% respectively. On an annual basis, new approvals of CRELs dropped by 26.4%. Outstanding balances As at end-May 2015, the outstanding value of RMLs reached MOP163.2 billion, an increase of 0.6% from one month earlier or 24.9% from a year ago. The resident component made up 94.1% of the total. Compared to end-April 2015, outstanding RMLs to residents and non-residents rose 0.6% and 0.5% respectively. Concurrently, the outstanding value of CRELs increased 1.5% from end-April 2015 and was up 36.2% from end-May 2014 to MOP139.3 billion. Residents accounted for 89.0% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew 1.4% and 2.9% respectively. Delinquency ratios At the end of May 2015, the delinquency ratios for both RMLs and CRELs remained virtually unchanged from a month ago, at 0.08% and 0.05% respectively. Compared to end-May 2014, the delinquency ratios for RMLs and CRELs were up by 0.01 percentage point and down by 0.02 percentage points respectively.