The Monetary Authority of Macao starts in the current month to disseminate mortgage loans statistics on a monthly basis. According to statistics released today, new approvals of residential mortgage loans (RMLs) rose whereas commercial real estate loans (CRELs) dropped in April 2012. With regard to outstanding balance, RMLs and CRELs witnessed slight increases.

New Lending Approved

In April 2012, new RMLs approved by Macao banks grew 2.5% month-to-month to MOP2.8 billion; of which, 91.7% was extended to residents. In terms of value, new RMLs to residents edged down 0.2% whereas those to non-residents grew 45.9%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) rose 49.2% month-to-month to MOP96 million; of which 97.1% was extended to residents. The equitable mortgage to residents rose 118.7% whereas that to non-residents dropped 87.0%.

New CRELs declined month-to-month by 59.5% to MOP1.5 billion; of which, 91.4% was granted to residents. In terms of value, new CRELs to residents and non-residents contracted 49.8% and 86.7% respectively from one month earlier.

Outstanding Balances

As at end-April 2012, the outstanding value of RMLs reached MOP79.2 billion, an increase of 1.7% from one month earlier. The resident component made up 92.3% of the total. Outstanding RMLs to residents and non-residents grew by 1.7% and 1.6% respectively over one month earlier.

Concurrently, the outstanding value of CRELs grew 1.2% from end-March to MOP61.8 billion. Residents accounted for 90.1% of the loans. Compared with one month earlier, outstanding CRELs to residents edged up 0.7% while those to non-residents rose 6.0%.

Delinquency Ratios

At the end of April 2012, the delinquency ratio for RMLs stood at 0.09%, up 0.01 percentage point from one month earlier. The ratio for CRELs remained unchanged from end-March at 0.09%.