Local mortgage approvals rise in October despite balance declines

New residential mortgage loan (RML) approvals in Macau climbed 4% month-on-month to MOP1.18 billion in October 2025, driven by a 6.2% increase for residents to MOP1.15 billion, according to the Monetary Authority of Macao (AMCM). Data shows that commercial real estate loans (CRELs) surged 310.1% to MOP845.71 million, mainly from resident loans up 305.1%. However, outstanding RML balances fell 0.3% to MOP208.13 billion, and CREL balances dropped 0.5% to MOP141.01 billion. Delinquency ratios held steady at 3.8% for RMLs and 5.6% for CRELs month-on-month, though both increased year-on-year. Three-month averages showed gains in new lending.