Macao's new residential mortgage loans drop 18.7 pct in April-Xinhua

Macao's new residential mortgage loans drop 18.7 pct in April

Source: Xinhua

Editor: huaxia

2023-06-09 20:49:45

MACAO, June 9 (Xinhua) -- The new approvals of Macao's residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both decreased month on month in April, the special administrative region's monetary watchdog said on Friday.

According to statistics released by the Monetary Authority of Macao, the new RMLs approved by Macao banks in April dropped by 18.7 percent month on month to 1.55 billion patacas (192 million U.S. dollars).

The new RMLs to residents, representing 98.5 percent of the total, fell by 18.8 percent to 1.53 billion patacas. The non-resident component decreased to 22.97 million patacas.

The new CRELs fell by 6.0 percent monthly to 2.37 billion patacas. Within this total, new CRELs to residents occupied 94.8 percent.

At the end of April, the outstanding value of RMLs dropped by 0.3 percent from the previous month, or 2.6 percent from a year earlier, to 235.4 billion patacas.

The outstanding value of CRELs fell by 0.3 percent month-to-month to 161.6 billion patacas, attributable to the repayment of loans with a large denomination.

At the end of March, the delinquency ratio for RMLs stood at 0.7 percent, which went up by 0.1 percentage point from a month ago, or 0.3 percentage points over a year earlier.

The delinquency ratio for CRELs was 1.5 percent, up by 0.4 percentage points from a month ago, or 0.7 percentage points from the end of April 2022. (1 pataca equals 0.12 U.S. dollars)