Macao's new approved residential mortgage loans rise 40.9 pct in November last year

MACAO, Jan. 11 (Xinhua) -- The new approvals of Macao's residential mortgage loans (RMLs) rose in November 2022 whereas those of commercial real estate loans (CRELs) decreased in the month, the special administrative region's monetary watchdog said on Wednesday.

According to the statistics released by the Monetary Authority of Macao, the new RMLs approved by Macao banks in November last year increased 40.9 percent month-on-month to 1.39 billion patacas (172.6 million U.S. dollars).

The new RMLs to residents, representing 99.5 percent of the total, grew 41.0 percent to 1.38 billion patacas. The non-resident component jumped 20.7 percent to 7.3 million patacas.

The new CRELs plunged 80.8 percent from the relatively high base in the previous month to 1.40 billion patacas. The new CRELs to residents, or 93.1 percent of the total, fell by 82.1 percent to 1.30 billion patacas.

At the end of November, the outstanding value of RMLs fell 0.1 percent month-on-month, or 2.2 percent year-on-year, to 233.9 billion patacas, attributable to the repayment of loans with large denomination.

The outstanding value of CRELs was 165.0 billion patacas, up 0.5 percent from the previous month, or 3.4 percent from a year ago.

At the end of November, the delinquency ratio for RMLs stood at 0.5 percent, which remained unchanged from a month ago, but up by 0.2 percentage points over a year earlier.

The delinquency ratio for CRELs stayed at 0.8 percent from the previous month, edging up 0.2 percentage points from the end of November 2021. (1 pataca equals 0.12 U.S. dollar)