Decreasing approvals of residential mortgage loans

In July, new residential mortgage loans (RMLs) approved by Macau banks fell by 28.7% month-on-month to MOP1.20 billion. Of these, new RMLs to residents, representing 99.3% of the total, decreased by 28.5% to MOP1.19 billion. The monthly average of new RMLs approved between May and July 2023 was MOP1.84 billion, representing a 6.1% decline from the previous period (April to June 2023). New commercial real estate loans (CRELs) increased by 30.2% month-on-month to MOP2.31 billion.