New residential loans grow

2014-2-19

From：Macau Daily Times

Residential mortgage loans (RMLs) grew in December 2013, whereas those of commercial real estate loans (CRELs) dropped, according to statistics released yesterday by the Monetary Authority of Macau. In December 2013, new RMLs approved by Macau banks grew 1.2 pct month-to-month to MOP3 billion, of which 99.1 pct was extended to residents. In terms of value, new RMLs to residents increased by 4.2 pct, whereas the loans to non-residents declined by 75.8 pct. When compared with the same period in 2012, new approvals of RMLs witnessed an increase of 14.5 pct. New RMLs collateralized by uncompleted units (i.e. equitable mortgage) increased by 12.3 pct month-to-month to a total of MOP141.8 million. When compared with the same period of 2012, this type of bank mortgage has expanded by 57.9 pct. As of the end of December 2013, the outstanding value of RMLs reached MOP118.3 billion, an increase of 1.3 pct from one month earlier or 22.3 pct year-on-year. The resident component made up 94.8 pct of the total. Compared to the end of November 2013, outstanding RMLs to residents grew 1.5 pct whereas those to non-residents slid by 1.2 pct.

Copyright@Macau Daily Times