The number of residential loans to local residents during the month of June saw an 11.5 per cent uptick, while accounting for 97.8 per cent of all residential mortgage loans granted during the month, according to the most recent data from the Monetary Authority of Macao.
Overall, the value of new residential mortgage loans decreased month-to-month in June, witnessing a 15.5 per cent drop to a value of MOP4.8 billion, with those to residents valued at MOP4.7 billion.
The component of non-resident residential mortgage loans plummeted 92.7 per cent month-on-month, which the Authority attributes to a higher comparison base in the previous month of MOP108.3 million. New approvals of residential mortgage loans posted a 3 per cent uptick year-on-year.
Outstanding balances of residential mortgage loans saw a 0.7 per cent uptick month-to-month and a 5.2 per cent rise from the same period last year, amounting to MOP185.6 billion. Outstanding balances for residents registered a 0.9 per cent drop, while those to non-residents fell 2.9 per cent month-to-month.
Regarding commercial real estate loans, an 82.1 per cent increase was seen month-to-month, reaching MOP6.1 billion, with residents comprising 98.1 per cent of the total. The value of the commercial real estate loans to residents surged 172.6 per cent month-to-month, reaching MOP6 billion ‘mainly driven by new loans granted to enterprises collateralised by commercial buildings and land,’ notes AMCM.
Commercial real estate loans to non-residents saw an 89.9 per cent drop in value, reaching MOP116.2, a fall also attributed to a higher comparison base in May.
Outstanding balances of commercial real estate loans saw a 2.2 per cent uptick month-to-month and a 2.1 per cent rise year-on-year, reaching MOP172.7 billion. Residents accounted for 89.2 per cent of the loans, with a 2.7 per cent uptick in loan value from the previous month, while those to non-residents saw a 4.7 per cent month-to-month uptick.
The delinquency ratio for residential mortgage loans dropped 0.02 percentage points, to 0.16 per cent month-to-month, but rose by 0.06 percentage points from the same period one year ago. Commercial real estate loans were up 0.12 percentage points year-on-year, and ‘virtually unchanged’ month-to-month at 0.14 per cent.