New residential mortgage loans approved by the city’s banks posted a month-on-month increase of 5.7 per cent to MOP3.93 billion in June, of which most were granted to local residents, the latest data released by the Monetary Authority of Macau (AMCM) reveals.
In June, the city’s residents were granted MOP3.8 billion-worth of home loans, a jump of 6.2 per cent month-on-month, accounting for 96.8 per cent of total approved loans. Those granted to non-residents dropped 8.2 per cent month-on-month to MOP126.1 million from MOP137 million.
On a year-on-year comparison, the total value of mortgage loans by banks represents a fall of 57.1 per cent, while those to residents and non-residents plunged 45 per cent and 94.4 per cent year-on-year, respectively, according to AMCM.
Equitable mortgage
Local banks also approved mortgage loans of MOP282 million for units still under construction in June, also known as equitable mortgages. The amount represents a fall of 14.7 per cent month-on-month, as well as a plunge of 89.7 per cent year-on-year.
The equitable mortgage loans that residents were approved accounted for 96.8 per cent of the total, amounting to MOP273 million, a month-on-month decrease of 11.3 per cent. In addition, such loans to non-residents also posted a decline of 60.6 per cent month-on-month to MOP9.08 million.
Commercial real estate loans
Meanwhile, new commercial real estate loans approved by the city’s banks soared 51.8 per cent month-on-month in June, reaching MOP6.2 billion, compared to MOP4.1 billion during May.
In terms of value, these new commercial real estate loans to residents grew 64.6 per cent month-on-month to MOP5.98 billion during the month, while those to non-residents posted a month-on-month drop of 45.4 per cent to MOP261 million.
Compared to June last year, the amount of commercial real estate loans approved during the month dropped 42.7 per cent, AMCM said.
Increased outstanding values
On the other hand, the outstanding values for both residential mortgage loans and commercial real estate loans posted increases of 20.1 per cent and 34 per cent year-on-year, reaching MOP165.5 billion and 140.8 billion, respectively.
According to AMCM, 94.1 per cent of the outstanding values for home loans were made up by local residents, surging 20.3 per cent year-on-year to MOP155.8 billion, while outstanding home loans to non-residents grew 16.5 per cent year-on-year to MOP9.69 billion.
For commercial real estate loans, residents accounted for 89.2 per cent of the outstanding value in the segment, totalling MOP125.6 billion, an increase of 29.8 per cent month-on-month whilst those of non-residents surged 82.5 per cent year-on-year to MOP15.2 billion.
At the end of June 2015, the delinquency ratio for home mortgage loans was 0.07, a decrease of 0.01 percentage points from a month ago, or up 0.01 percentage points from a year ago. In addition, the ratio for commercial real estate loans increased month-on-month by 0.03 percentage points to 0.07 as well, remaining virtually unchanged from one year prior.
