New residential mortgage loans approved by banks in Macao in July rose by 5.5 percent from June to total 1.27 billion patacas. That’s according to new figures from the Monetary Authority of Macao.
Loans to Macao residents grew by 4.9 percent to 1.23 billion patacas, while those made to non-resident investors increased by 30 percent to 37.33 million, the authority said.
However, the monthly average of new mortgages approved between May and July was 1.16 billion patacas, down 3.4 percent from the previous three-month reporting period of April to June.
[See more: The residential property price index is down by 13.6 percent year-on-year]
New commercial real estate loans also fell appreciably month-on-month to 1.92 billion patacas – a decline of 12.6 percent. Such loans made to residents fell by 13.1 percent to 1.90 billion patacas; those to non-residents grew to 19.67 million. The monthly average of the loans approved between May and July was 2.33 billion patacas, up 10.8 percent from the previous period of April to June.
At the end of July 2024, the delinquency ratio for residential mortgage loans was 4.2 percent – up by 0.7 percentage points from June or 3.6 percent points compared to July 2023.
The delinquency ratio for commercial real estate loans was 3.8 percent, up 0.3 percentage points from a month ago or 2 percent in comparison to July 2023.
