The approval of residential mortgage loans (RMLs) rose by 53.1% month-to-month in June to MOP6.04 billion, of which new RMLs to residents, representing 98.6% of the total, increased by 56.6% to MOP5.95 billion, according to data released by the Monetary Authority of Macao.
The non-residential component dropped by 39.4% to MOP86.3 million.
The monthly average of new RMLs approved between April and June 2019 was MOP4.2 billion, up by 27% from the previous period.
Meanwhile, the new RMLs collateralized by uncompleted units fell month-to-month by 22.5% to MOP464.3 million; of which the equitable mortgages extended to residents accounted for 94.1% of the total.
On an annual basis, new equitable mortgages approved dropped by 16.4%.
New commercial real estate loans (CRELs) dropped by 45.0% month-to-month to MOP4.1 billion, of which new CRELs to residents, which occupied 97.4% of the total, decreased by 46.1% to MOP4 billion.
Meanwhile, the new CRELs to non-residents grew by 111.0% from a relatively low base to MOP108.6 million.
The monthly average of new CRELs approved between April and June 2019 was MOP5.5 billion, down by 3.3% as compared with the previous period.
As at end-June 2019, the outstanding value of RMLs was MOP224.2 billion, up by 1.3% from a month earlier or 13.5% from a year ago, of which the residential component made up 93.0% of the total.
The outstanding value of CRELs was MOP191.3 billion, up by 1.9% month-to-month, but down by 2.4% from a year earlier. Residents accounted for 93.7% of the loans. LV
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