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By Maricel E. Burgonio, Reporter
HOMEBUYERS and property
developers as of the fourth quarter of last year took out more loans
from the country’s thrift banks, as the industry’s exposure to
the real estate sector jumped by more than a quarter, reflecting the
pick up in housing construction.
Data from the Bangko Sentral ng
Pilipinas showed that savings banks’ exposure to the real estate
industry rose 26.2 percent to P76.1 billion. Of this total, loans
comprised 99.2 percent, or P75.481 billion, which was 2.1 percent
higher than in 2005. The balance of P582 million was made up of
banks’ investments in the property sector.
Real-estate loans were
concentrated in financing the acquisition of residential properties
by individual borrowers. These comprised 77.6 percent, or P58.6
billion of the total lending to the sector.
The remaining 22.4 percent, or
P16.9 billion comprised loans taken out to construct and develop
real-estate properties for commercial purposes.
Property loans that were in good
standing rose to P67.61 billion, while those that were past due
amounted to P7.720 billion. The amount considered past due stood at
10.2 percent, or better than the 10.7 percent in the third quarter
of last year and the 11.6 percent in the fourth quarter of 2005.
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