Mortgage loans statistics – March 2016

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) increased simultaneously in March 2016. With regard to the outstanding balance, RMLs and CRELs both witnessed increases. New lending approved In March 2016, new RMLs approved by Macao banks increased by 31.4% month-to-month to MOP3.0 billion; of which, 93.5% was extended to residents. In terms of value, new RMLs to residents and non-residents grew by 33.7% and 5.3% respectively. When compared with the same period of 2015, new approvals of RMLs fell by 39.9%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 2.8% month-to-month to MOP0.7 billion. The equitable mortgage extended to residents, which accounted for 81.3% of the total, fell by 3.2%. When compared with the same period of 2015, new RMLs collateralised by uncompleted units decreased by 58.3%. New CRELs grew by 13.8% month-to-month to MOP3.0 billion; of which, 97.7% was granted to residents. In terms of value, new CRELs to residents rose 26.4% whereas those to non-residents dropped 78.0%. On an annual basis, new approvals of CRELs fell by 68.7%. Outstanding balances As at end-March 2016, the outstanding value of RMLs was MOP174.8 billion, an increase of 0.5% from one month earlier or 10.0% from a year ago. The resident component made up 93.7% of the total. Compared to end-February 2016, outstanding RMLs to residents and non-residents rose 0.4% and 1.5% respectively. Concurrently, the outstanding value of CRELs increased by 0.7% month-to-month and 26.5% year-on-year to MOP167.3 billion. Residents accounted for 88.1% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew by 0.4% and 3.2% respectively. Delinquency ratios At the end of March 2016, the delinquency ratio for RMLs remained virtually unchanged from a month ago or up 0.02 percentage points from a year ago, to 0.09%. The ratio for CRELs was also unchanged from a month ago or down 0.04 percentage points from end-March 2015, to 0.02%.