Sharp decline in home mortgages

2013-4-23

From：Macau Business

New approvals of residential mortgage loans declined sharply in February, according to statistics released today by the Monetary Authority of Macau.

In February, new home mortgages approved by Macau banks dropped 31.3 percent month-to-month to MOP2.0 billion (US$250,000) – 96.1 percent were extended to residents.

New residential mortgages collateralised by uncompleted units dropped 30.1 percent month-to-month to MOP80.8 million.

However, when compared with the same period in 2012, new approvals of residential mortgage loans witnessed growth of 29.0 percent.

At the end of February, the delinquency ratio for home mortgages stood at 0.06 percent, which was largely unchanged from one month earlier.

Copyright@Macau Business