According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) dropped whereas commercial real estate loans (CRELs) rose in February 2014. With regard to outstanding balance, RMLs and CRELs both witnessed increases.

New Lending Approved

In February 2014, new RMLs approved by Macao banks dropped 41.7% month-to-month to MOP2.5 billion; of which, 98.0% was extended to residents. In terms of value, new RMLs to residents and non-residents decreased 41.6% and 46.0% respectively. When compared with the same period of 2013, new approvals of RMLs witnessed increase of 24.2%.

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) decreased by 68.9% month-to-month to MOP138.0 million. The equitable mortgage extended to residents, which accounted for 96.6% of the total, decreased 69.1%. When compared with the same period of 2013, new RMLs collateralised by uncompleted units expanded 70.9%.

New CRELs rose by 36.1% month-to-month to MOP7.5 billion; of which, 99.3% was granted to residents. In terms of value, new CRELs to residents surged 44.5% whereas those to non-residents dropped 85.6%. On an annual basis, new approvals of CRELs grew by 1.8%.

Outstanding Balances

As at end-February 2014, the outstanding value of RMLs reached MOP122.3 billion, an increase of 1.0% from one month earlier or 23.5% from a year ago. The resident component made up 95.1% of the total. Compared to end-January 2014, outstanding RMLs to residents grew 1.1% whereas those to non-residents slid 0.9%.

Concurrently, the outstanding value of CRELs increased 2.6% from end-January 2014 and was up 24.3% from end-February 2013 to MOP90.6 billion. Residents accounted for 93.1% of the loans. Compared with one month earlier, outstanding CRELs to residents and non-residents grew 2.7% and 0.6% respectively.

Delinquency Ratios

At the end of February 2014, the delinquency ratio for RMLs remained unchanged at 0.05% but down 0.01 percentage point from a year ago. The ratio for CRELs went up 0.02 percentage points from end-January 2014 or slid 0.11 percentage points from end-February 2013 to 0.05%.

For enquiry, please contact:

Research and Statistics Department

Monetary Authority of Macao

(Tel：83952532; Fax：28353042)