Mortgage approvals fall while commercial loans rise in August

New residential mortgage loans (RMLs) approved by banks fell 22.2% month-on-month to MOP820.82 million in August 2025, according to the Monetary Authority of Macao. Loans to residents, accounting for 98.2% of the total, dropped 22.5%, while non-resident RMLs fell 3.1%. In contrast, new commercial real estate loans (CRELs) surged 301.8% to MOP1.14 billion, with resident CRELs rising 125.5% to MOP617.70 million and non-resident CRELs reaching MOP524.48 million. Outstanding RML balances declined 0.6% month-on-month to MOP209.86 billion, while CRELs fell 1.3% to MOP143.54 billion.