Approved commercial property loans drop 35%
The monthly average value of new commercial real estate loans approved between November 2019 and January 2020 amounted to 2.4 billion patacas, down by 35.6% in comparison with the previous period between October and December 2019.
Such loans slightly increased in January by 0.2% month-to-month to 2.45 billion patacas, according to data released by the Monetary Authority of Macao.
Within this total, new commercial real estate loans granted to residents, which made up 98.4% of the total, decreased by 1.2% to 2.41 billion patacas, whereas those to non-residents increased to 39.4 million patacas.
As at end-January 2020, the outstanding value of commercial real estate loans decreased by 0.1% month-to-month or 9% from a year earlier to 178.4 billion patacas. LV
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