In the month of May, the number of residential mortgage loans approved by local banks increased 70.7 per cent month-on-month to MOP5.7 billion (US$708.38 million), according to the latest data released by the Macao Monetary Authority (AMCM).
Of total residential mortgage loans, 74.1 per cent were loans approved for residents, up 29.9 per cent to MOP4.2 billion, from the month before.
For non-residents, approved loans grew to MOP1.5 billion ‘mainly attributed to the approval of enterprise loans with residential properties as collaterals,’ stated AMCM.
In comparison to the number of loans approved in the same period a year ago, the number recorded in May posted an increase of 6.3 per cent.
Regarding mortgages approved for off-plan units, the total amount of loans reached MOP443.1 million, up 17.6 per cent month-on-month.
AMCM showed that more off-plan unit mortgage loans were approved in May for local residents, up 18.5 per cent, while the number registered a significant decline of 78.7 per cent year-on-year, given ‘a higher comparison base in the same period in 2016.’
In contrast to the numbers for residential units, commercial unit mortgage loans dropped 15.5 per cent month-on-month to MOP3.3 billion in May.
Commercial real estate loans to residents, which accounted for 65.5 per cent of total approved commercial unit mortgage loans, plummeted , h44 per cent month-on-month.
Loans for non-residents, however, increased to MOP1.2 billion, mainly due to new loans granted to enterprises collateralised by retail premises.
On an annual comparison, the new approvals of loans for commercial units increased by 16.8 per cent.
According to AMCM, the outstanding value of residential mortgage loans was MOP184.5 billion as at the end of May, up 0.7 per cent month-on-month and 5.2 per cent year-on-year.
Specifically, the outstanding value of residential mortgage loans for residents and
non-residents increased by 0.1 per cent and 9.5 per cent, respectively.
The outstanding value of commercial mortgage loans amounted to some MOP168.9 billion in May, registering an increase of 0.4 per cent month-on-month but a decrease of 1.7 per cent year-on-year.
The outstanding value of commercial mortgage loans for residents dipped 0.8 per cent while increasing 3.4 per cent for non-residents, month-on-month.
The delinquency ratio for residential mortgage was 0.18 per cent in May, up 0.02 percentage points month-on-month or 0.07 percentage points year-on-year.
The ratio for commercial mortgages was 0.14 per cent, experiencing an uptick of 0.01 percentage points when compared to April and 0.12 percentage points when compared to May 2016.

Source: AMCM
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