According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) dropped in November 2012. With regard to outstanding balance, both RMLs and CRELs continued to grow.

New Lending Approved

In November 2012, new RMLs approved by Macao banks dropped 15.7% month-to-month to MOP3.6 billion; of which, 95.7% was extended to residents. In terms of value, new RMLs to residents and non-residents decreased 11.9% and 57.5% respectively.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) rose markedly by 171.8% month-to-month to MOP0.2 billion. The equitable mortgage extended to residents, which accounted for 96.3% of the total, rose 173.1% while the amount to non-residents also went up by 142.7%.

New CRELs contracted 7.0% month-to-month to MOP4.7 billion; of which, 96.7% was granted to residents. In terms of value, new CRELs to residents dropped 9.3% whereas the amount to non-residents witnessed significant growth of 253.1% compared with the previous month.

Outstanding Balances

As at end-November 2012, the outstanding value of RMLs reached MOP95.9 billion, an increase of 2.1% from one month earlier. The resident component, which made up 93.0% of the total, grew 2.7% whereas outstanding RMLs to non-residents shrank 5.9%.

Concurrently, the outstanding value of CRELs edged up 1.4% from end-October to MOP67.6 billion. Residents accounted for 90.6% of the loans. Compared with one month earlier, outstanding CRELs to residents grew by 2.4% whereas those to non-residents slid 6.7%.

Delinquency Ratios

At the end of November 2012, the delinquency ratio for RMLs stood at 0.06%, up 0.01 percentage point from one month earlier. The ratio for CRELs saw little change at 0.13%.