According to statistics released today (11 February) by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both decreased month-on-month in December 2024. With regard to the outstanding balances, both RMLs and CRELs witnessed declines on a monthly basis.
New lending approved
In December 2024, new RMLs approved by Macao banks fell by 17.9% month-on-month to MOP1.01 billion. Among them, new RMLs to residents, representing 96.6% of the total, decreased by 17.7% to MOP975.39 million; the non-resident component dropped by 22.6% to MOP34.40 million. The monthly average of new RMLs approved between October and December 2024 was MOP1.18 billion, down 36.5% from the previous period (September to November 2024).
New CRELs decreased by 22.7% month-on-month to MOP685.51 million. Among them, new CRELs to residents, which occupied 96.0% of the total, fell by 18.7% to MOP658.01 million; new CRELs to non-residents dropped by 64.4% to MOP27.50 million. The monthly average of new CRELs approved between October and December 2024 was MOP738.25 million, down 13.6% when compared with the previous period (September to November 2024).
Outstanding balances
As at end-2024, the outstanding value of RMLs fell by 0.5% month-on-month or 4.9% year-on-year to MOP218.14 billion, attributable to the repayment of loans with large denomination. Among them, the resident component made up 96.6%. When compared with the previous month, outstanding RMLs to residents and non-residents dropped by 0.5% and 0.1% respectively.
The outstanding value of CRELs was MOP149.92 billion, which decreased by 0.7% from the preceding month or 5.5% from a year ago; of which, the resident component made up 91.9%. When compared with the previous month, outstanding CRELs to residents and non-residents fell by 0.7% and 0.5% respectively.
Delinquency ratios
At end-2024, the delinquency ratio for RMLs was 3.5%, which went up by 0.1 percentage point from a month ago or 2.7 percentage points over a year earlier. The ratio for CRELs was 5.3%, up 0.5 percentage points from a month ago or 2.3 percentage points from end-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.
