MACAU, Jan 11 – According to statistics released today by the Macau Monetary Authority, new approvals for residential mortgage loans (RMLs) and commercial property loans (CRELs) increased in November 2021. Regarding outstanding balances, CRELs saw increases.
Approval of new lending
In November 2021, the value of new RMLs approved by Macau banks rose 35.2% month-on-month to 3.15 billion patacas. Of them, new RMLs for residents, representing 98.5% of the total, grew by 33.2% to 3.10 billion patacas; The non-resident component also increased to 48.7 million Macanese patacas. The monthly average of new RMLs approved between September and November 2021 was 3.0 billion MOP, down 3.5% from the previous period (August to October 2021).
New RMLs secured by incomplete units (ie Mortgage Equitable) increased 33.0% per month to MOP 271.8 million. On a yearly basis, the new equitable mortgage was down 13.6%.
New CRELs expanded 547.7% month-on-month to MOP 12.71 billion. Within this total, new CRELs for residents, which occupied 99.9% of the total, increased by 552.3% to MOP 12.69 billion; The proportion of non-residents also rose by 10.2% to 18.6 million Macanese patacas. The monthly average of new CRELs approved between September and November 2021 was 5.9 billion MOP, up 99.4% over the previous period (August to October 2021).
At the end of November 2021, the outstanding value of RMLs was 239.0 billion MOP, which grew by 0.8% month-on-month or 1.8% over last year. Of them, the resident component makes up 95.0% of the loans. Compared to the previous month, the outstanding RML for residents and non-residents increased by 0.8% and 0.6%, respectively.
The outstanding value of CRELs was 159.6 billion MOP, which was up 0.3% from the previous month but down 8.0% from the previous year. The population made up 93.3% of the loans. Compared to the previous month, CRELs outstanding for residents increased 0.3% while that of non-residents decreased 0.1%.
Late payment rates
At the end of November 2021, RMLs had a delinquent rate of 0.29%, an increase of 0.04 percentage points from last month or 0.03 percentage points from the previous year. CRELs were 0.60%, almost unchanged from last month but up 0.11 percentage point from the end of November 2020.