According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both increased month-to-month in December 2022.  With regard to the outstanding balances, RMLs rose whereas CRELs witnessed a decline on a monthly basis.

New lending approved

In December 2022, new RMLs approved by Macao banks advanced by 118.4% month-to-month to MOP3.03 billion. Of which, new RMLs to residents, representing 86.4% of the total, grew by 89.6% to MOP2.62 billion; the non-resident component increased to MOP412.9 million. The monthly average of new RMLs approved between October and December 2022 was MOP1.80 billion, up 25.8% from the previous period (September to November 2022). 

New CRELs increased by 12.0% month-to-month to MOP1.57 billion. Within this total, new CRELs to residents, which occupied 95.7% of the total, expanded by 15.2% to MOP1.50 billion; new CRELs to non-residents fell by 29.8% to MOP68.0 million. The monthly average of new CRELs approved between October and December 2022 was MOP3.41 billion, a decrease of 2.9% from the previous period (September to November 2022). 

Outstanding balances

As at end-2022, the outstanding value of RMLs was MOP238.5 billion, which rose by 0.4% month-to-month but dropped by 2.0% from a year ago. Of which, the resident component made up 95.0% of the total. When compared with the previous month, outstanding RMLs to residents went up by 0.4% whereas those to non-residents fell by 0.5%.

The outstanding value of CRELs decreased by 0.1% month-to-month but rose by 1.6% from a year earlier to MOP165.0 billion. Of which, the resident component accounted for 93.5% of the total. Compared with a month earlier, outstanding CRELs to residents declined by 0.1% whereas those to non-residents rose by 0.6%.

Delinquency ratios

At end-2022, the delinquency ratio for RMLs stood at 0.5%, which remained unchanged from a month ago but up by 0.2 percentage points over a year earlier. The ratio for CRELs was 0.9%, up by 0.1 percentage point from a month ago or 0.3 percentage points from end-2021.

Residential mortgage loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by residential real estate in Macao. They include loans to finance purchase of residential properties and other purposes (such as refinancing loans, working capital and trade financing). Commercial real estate loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by commercial real estate in Macao. They include loans to construction companies and loans to finance property development and investment.