Skip to content
Menu
Menu

Big drop in property loans approved in June

Residential loans were down by 36.1 percent, month-on-month. Commercial loans, meanwhile, dropped by a hefty 52.8 percent.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

Residential loans were down by 36.1 percent, month-on-month. Commercial loans, meanwhile, dropped by a hefty 52.8 percent.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

The month of June saw fewer residential mortgage loans (RMLs) and commercial real estate loans (CRELs) approved than were in July, according to the Monetary Authority of Macao’s latest figures.

New RMLs fell by 36.1 percent month-on month, to 1.68 billion patacas. Ninety-nine percent of these RMLs went to Macao residents.

New CRELs decreased even further, by 52.8 percent – to 1.78 billion patacas. Ninety-eight percent of these were granted to residents.

[See more: Macao’s property market in a word: flat]

In terms of outstanding balances, the value of RMLs dropped by 0.1 percent month-on-month and by 2.8 percent year-on-year.  The total outstanding value of RMLs was sitting at 233.6 billion patacas at the end of June.

The outstanding value of CRELs has increased to 162.1 billion patacas. That’s 0.3 percent more than July, and a year-on-year jump of 2.1 percent.

At the end of June, delinquency ratios for RMLs stood at 0.7 percent – unchanged from the month prior. They were 1.8 percent for CRELs, a month-on-month increase of 0.3 percent.

 

Send this to a friend