According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both increased in November 2021. With regard to the outstanding balances, both RMLs and CRELs witnessed increases.

New lending approved

In November 2021, new RMLs approved by Macao banks rose by 35.2% month-to-month to MOP3.15 billion. Of which, new RMLs to residents, representing 98.5% of the total, grew by 33.2% to MOP3.10 billion; the non-resident component also increased to MOP48.7 million. The monthly average of new RMLs approved between September and November 2021 was MOP3.0 billion, a decrease of 3.5% from the previous period (August to October 2021). 

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 33.0% month-to-month to MOP271.8 million. On an annual basis, new equitable mortgage approved dropped by 13.6%.

New CRELs expanded by 547.7% month-to-month to MOP12.71 billion. Within this total, new CRELs to residents, which occupied 99.9% of the total, increased by 552.3% to MOP12.69 billion; those to non-residents also advanced by 10.2% to MOP18.6 million. The monthly average of new CRELs approved between September and November 2021 was MOP5.9 billion, up by 99.4% as compared with the previous period (August to October 2021). 

Outstanding balances

As at end-November 2021, the outstanding value of RMLs was MOP239.0 billion, which grew by 0.8% month-to-month or 1.8% from a year ago. Of which, the resident component made up 95.0% of the loans. When compared with the previous month, outstanding RMLs to residents and non-residents rose by 0.8% and 0.6% respectively.

The outstanding value of CRELs was MOP159.6 billion, which advanced by 0.3% from the previous month but dropped by 8.0% from a year earlier. Residents accounted for 93.3% of the loans. Compared with a month earlier, outstanding CRELs to residents increased by 0.3% whereas those to non-residents edged down by 0.1%.

Delinquency ratios

At the end of November 2021, the delinquency ratio for RMLs stood at 0.29%, up by 0.04 percentage points from a month ago or 0.03 percentage points over a year earlier. The ratio for CRELs was 0.60%, virtually unchanged from a month ago but up by 0.11 percentage points from end-November 2020.