According to statistics released today (11 June) 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 April 2024. With regard to the outstanding balances, both RMLs and CRELs witnessed declines on a monthly basis.

New lending approved

In April 2024, new RMLs approved by Macao banks rose by 53.7% month-on-month to MOP1.39 billion. Of which, new RMLs to residents, representing 99.0% of the total, grew by 52.4% to MOP1.38 billion; the non-resident component increased to MOP13.39 million. The monthly average of new RMLs approved between February and April 2024 was MOP993.40 million, up 7.0% from the previous period (January to March 2024). 

New CRELs increased by 73.5% month-on-month to MOP1.24 billion. Within this total, new CRELs to residents, which occupied 53.4% of the total, rose by 4.4% to MOP661.00 million; new CRELs to non-residents grew to MOP576.80 million. The monthly average of new CRELs approved between February and April 2024 was MOP965.84 million, down 6.0% from the previous period (January to March 2024). 

Outstanding balances

As at end-April 2024, the outstanding value of RMLs was 226.46 billion, which fell by 0.4% from the preceding month or 3.8% from a year ago. Of which, the resident component made up 95.5% of the total. When compared with the previous month, outstanding RMLs to residents and non-residents dropped by 0.2% and 2.7% respectively.

The outstanding value of CRELs fell by 1.0% month-on-month or 3.4% year-on-year to MOP156.17 billion, attributable to the repayment of loans with large denomination. Of which, the resident component made up 93.4% of the total. When compared with the previous month, outstanding CRELs to residents and non-residents both decreased by 1.0%.

Delinquency ratios

At the end of April 2024, the delinquency ratio for RMLs stood at 3.6%, which kept unchanged from a month ago but up 2.9 percentage points over a year earlier. The ratio for CRELs remained at 3.5% from the previous month, but up 2.0 percentage points from end-April 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.