New approvals of commercial property loans increased by 38.1 percent between October and November, according to statistics released by the Monetary Authority of Macao. The upswing follows a 37.9 percent month-on-month decline in the period prior.
New approvals of residential mortgage loans continued their decline, in spite of the city’s ever-decreasing housing prices. The 5.3 percent drop was small, however, when compared with the period from September to October, which saw a whopping 57.4 percent month-on-month decline.
November’s new residential loans amounted to 1.23 billion patacas (US$152.7 million). The value of new commercial loans granted totalled 887.02 million patacas (US$110 million).
[See more: Residential property price index plummets by more than 12 percent year-on-year]
Meanwhile the outstanding value of residential mortgages at the end of November was 219.14 billion patacas (US$27.2 billion), down 0.2 percent from the preceding month or 4.8 percent from a year ago. The outstanding value of commercial property loans fell by 0.8 percent month-on-month or 5.7 percent year-on-year, coming in at 150.9 billion patacas (US$18.7 billion).
At the end of November, the delinquency ratio for residential mortgages stood at 3.4 percent – unchanged from a month ago and up 2.6 percentage points compared to the same month in 2023.
The delinquency ratio for commercial loans was 4.8 percent, down 0.2 percentage points from a month ago and up 2.4 percentage points from the end of October last year.
