According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) increased while those of commercial real estate loans (CRELs) decreased in May 2021.  With regard to the outstanding balances, RMLs rose whereas CRELs witnessed a decline.

New lending approved

In May 2021, new RMLs approved by Macao banks rose by 28.8% month-to-month to MOP3.04 billion. Of which, new RMLs to residents, representing 98.7% of the total, grew by 29.3% to MOP3.00 billion. On the other hand, the non-resident component decreased by 2.3% to MOP40.2 million. The monthly average of new RMLs approved between March and May 2021 was MOP2.8 billion, up by 12.2% from the previous period (February to April 2021). 

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) reduced by 42.8% month-to-month to MOP168.4 million. On an annual basis, new equitable mortgage approved dropped by 42.6%.

New CRELs fell by 32.4% month-to-month to MOP3.61 billion. Within this total, new CRELs to residents, which occupied 98.0% of the total, decreased by 33.1% to MOP3.54 billion whereas those to non-residents rose by 28.4% to MOP73.0 million. The monthly average of new CRELs approved between March and May 2021 was MOP3.6 billion, up by 22.1% as compared with the previous period (February to April 2021). 

Outstanding balances

As at end-May 2021, the outstanding value of RMLs was MOP235.1 billion, which increased by 0.1% month-to-month or 1.4% from a year ago. Of which, the resident component made up 94.8% of the loans. When compared with the previous month, outstanding RMLs to residents and non-residents rose by 0.1% and 0.4% respectively.

The outstanding value of CRELs decreased by 0.3% month-to-month or 11.5% from a year earlier to MOP159.5 billion, attributable to the repayment of loans with large denomination. Residents accounted for 93.1% of the loans. Compared with a month earlier, outstanding CRELs to residents and non-residents dropped by 0.3% and 0.6% respectively.

Delinquency ratios

At the end of May 2021, the delinquency ratio for RMLs was 0.24%, virtually unchanged from the previous month but down 0.03 percentage points over a year earlier. The ratio for CRELs was 0.50%, up by 0.01 percentage point from a month ago or 0.04 percentage points from end-May 2020.