Macau (MNA) – The number of new residential mortgage loans (RMLs) for non-residents approved by local banks had plummeted by 95.4 per cent month-on-month from a high base to MOP69.4 million (US$8.59 million), Monetary Authority of Macao (AMCM) revealed on Tuesday.
During the month of April, the number of new RMLs approved had decreased by 35.4 per cent month-on-month to MOP4 billion, while new commercial real estate loans (CRELs) rose by 44.4 per cent to MOP8.4 billion.
RMLs for local residents dropped by 15.9 per cent to MOP3.9 billion, which accounted for 98.3 per cent of the total new RMLs approved.
Monthly average of new RMLs approved between February and April was MOP4.2 billion, up 2.8 per cent year-on-year.
RMLs for off-plan units amounted to MOP666.9 million, up 29.6 per cent month-on-month.
For CRELs, loans approved reached MOP8.4 billion, posting an increase of 44.4 per cent compared to the previous month.
AMCM explained the growth of CRELs during April was due to new loans granted to enterprises collateralised by commercial buildings.
Monthly average of new CRELs approved during February to April was MOP7 billion, a decrease of 18 per cent when compared to the same period a year ago.
As at the end of April 2018, the outstanding value of RMLs was MOP191.4 billion, up 0.5 per cent month-on-month and 4.4 per cent year-on-year.
CRELs’ outstanding value was MOP190.9 billion, registering an increase of 1.7 per cent month-on-month and 12.6 per cent year-on-year.
The delinquency ratio for residential mortgage was 0.20 per cent in April. The ratio remained unchanged when compared to the previous month but increased by 0.04 percentage points year-on-year.
The ratio for commercial mortgages was 0.14 per cent, remained unchanged from the proceeding month but experienced an uptick of 0.01 percentage points when compared to April a year ago.
