Statistics | Residential loans decrease

New approvals of residential mortgage loans (RMLs) decreased in March 2015 whereas those of commercial real estate loans (CRELs) have increased, according to statistics released yesterday by the Monetary Authority of Macau.
In March 2015, new RMLs approved by Macau banks decreased 6.3 percent month-on-month to MOP4.9 billion, of which, 93.6 pct was extended to residents. In terms of value, new RMLs to residents decreased 10.5 pct whereas those to non-
residents increased 191.9 pct. When compared with the same period of 2014, new approvals of RMLs witnessed an increase of 40.5 pct.
According to the data provided by the Monetary Authority, new CRELs rose by 106.1 pct month-to-month to MOP9.7 billion. 97.7 pct of this total was granted to residents. In terms of value, new CRELs to residents increased 179.1 pct whereas those of non-residents decreased 82.9 pct.
As of the end of March 2015, the outstanding value of RMLs reached MOP159.0 billion, an increase of 2 pct from one month earlier or 27.2 pct year-on-year. The resident component made up 94.1 ct of the total. Compared to the end of February 2015, outstanding RMLs to residents and non-residents rose 1.9 pct and 3.1 pct respectively.