Macau (MNA) – Residential mortgage loans approved by Macau banks decreased 24 per cent year-on-year, and 22.3 per cent month-to-month to MOP3.2 billion in December 2017, official data by the Monetary Authority of Macao (AMCM) revealed on Tuesday.
And while approval of mortgages to residents were down 23.7 per cent month-to-month, those granted to non-resident increased 145.2 per cent month-to-month in December. Nevertheless, mortgages to residents account for 97.3 per cent of the total.
The outstanding value of residential mortgage loans as at the end of December was MOP189.5 billion (US$23.56 billion), up 0.2 per cent month-to-month and 4.2 per cent year-on-year, with those granted to residents accounting for 93.5 per cent of the total.
The delinquency ratio for residential mortgages remained unchanged in December from the previous month at 0.19 per cent, up 0.02 percentage points compared to the same month in 2016.
Commercial real estate loans saw a monthly decrease of 15.8 per cent to MOP5.5 billion in December 2017, with those granted to residents accounting for 97.4 per cent of the total. However, on an annual basis, new approvals of commercial real estate loans increased 20.3 per cent, says AMCM.
The outstanding value of commercial real estate loans was MOP178.7 billion, up 0.1 per cent month-to-month or 5.4 per cent year-on-year.
The delinquency ratio for commercial real estate loans remained unchanged month-to-month at 0.15 per cent in December, but up 0.02 percentage points from end-December 2016.
