Macau (MNA) – New approvals of residential mortgage loans (RMLs) surged 40.3 per cent month-to-month in August to MOP7.3 billion (US$904.3 million), the Monetary Authority of Macau (AMCM) indicated on Thursday.
Of this amount, 98.1 per cent was represented by loans to residents – up 39.8 per cent to MOP7.2 billion – with only 1.9 per cent being represented by loans to non-residents, up 67.4 per cent to MOP141.5 million.
The level of residential mortgage loans approved in August also saw a considerable 128.9 per cent year-on-year rise.
However commercial real estate loans (CRELs) saw an even greater monthly increase in August, rising 138.6 per cent to MOP9.8 billion.
The outstanding value of residential mortgage loans reached MOP203.6 billion in August, up by 2.0 per cent from the previous month earlier and 8.2 per cent from the same period last year.
Meanwhile the outstanding value of commercial real estate loans decreased by 6.7 per cent month-to-month but up 7.0 per cent from a year earlier to MOP184.2 billion.
The delinquency ratio for RMLs was 0.17 per cent, down by 0.02 percentage points year-on-year, with the delinquency ratio for CRELs remaining almost the same at 0.15 per cent.