According to statistics released today (11 November) by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both increased month-on-month in September 2024. With regard to the outstanding balances, RMLs dropped whereas CRELs witnessed an increase on a monthly basis.
New lending approved
In September 2024, new RMLs approved by Macao banks rose by 142.1% month-on-month to MOP3.05 billion. Among them, new RMLs to residents, representing 98.4% of the total, increased by 142.1% to MOP3.00 billion; the non-resident component grew by 145.1% to MOP48.66 million. The monthly average of new RMLs approved between July and September 2024 was MOP1.86 billion, up 49.6% from the previous period (June to August 2024).
New CRELs increased by 8.4% month-on-month to MOP1.03 billion. Among them, new CRELs to residents, which occupied 91.4% of the total, rose by 0.5% to MOP945.44 million; new CRELs to non-residents grew to MOP88.52 million. The monthly average of new CRELs approved between July and September 2024 was MOP1.30 billion, down 22.9% when compared with the previous period (June to August 2024).
Outstanding balances
As at end-September 2024, the outstanding value of RMLs was 220.17 billion, which fell by 1.3% from the preceding month or 5.0% from a year ago; of which, the resident component made up 96.6%. When compared with the previous month, outstanding RMLs to residents and non-residents dropped by 0.4% and 21.9% respectively.
The outstanding value of CRELs rose by 0.1% month-on-month but dropped by 4.7% year-on-year to MOP153.07 billion. Among them, the resident component made up 92.0%. When compared with the previous month, outstanding CRELs to residents fell by 1.4% whereas those to non-residents rose by 21.2%.
Delinquency ratios
At the end of September 2024, the delinquency ratio for RMLs dropped by 0.9 percentage points to 3.4% from a month ago, but up 2.6 percentage points over a year earlier. The ratio for CRELs was 5.2%, up by 1.4 percentage points from a month ago or 3.2 percentage points from end-September 2023.
Residential mortgage loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by residential real estate in Macao. They include loans to finance purchase of residential properties and other purposes (such as refinancing loans, working capital and trade financing). Commercial real estate loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by commercial real estate in Macao. They include loans to construction companies and loans to finance property development and investment.
