Banks approve more mortgage loans

New residential mortgage loans (RMLs) approved by Macau banks increased by 10.7% month-on-month to MOP977.92 million in November 2023, according to Monetary Authority of Macao. Of these, new RMLs to residents, representing 97.8% of the total number, grew by 10.2% to MOP956.59 million. Meanwhile, new commercial real estate loans (CRELs) decreased by 22% month-on-month to MOP896.12 million. Within this total, new CRELs to residents, or 95.4% of the total number, fell by 24.5% to MOP855.33 million. New CRELs to non-residents, however, grew to MOP40.79 million.