New residential mortgage loans (RMLs) approved by Macau banks grew by 15.4% month-to-month to MOP1.92 billion in September 2022, according to statistics released by the Monetary Authority of Macao.
Of these, new RMLs to residents represented 99.4% of the total and grew by 17% to MOP1.91 billion.
The monthly average of new RMLs approved between July and September 2022 was MOP1.5 billion, up by 13.7% from the previous period (June to August 2022).
Recent government data shows that the overall residential property price index for July – September 2022 decreased by 1.7% over the previous period (June – August 2022) to 250.4, as the city faces continued economic downturn due to the pandemic.
The overall residential property price index in the third quarter of 2022 decreased by 3.2% from the second quarter.
Meanwhile, new commercial mortgage loans (CMLs) decreased by 8.4% month-to-month to MOP1.87 billion. Within this total, new CRELs to residents, which occupied 91.9% of the total, fell by 15.4% to MOP1.72 billion, while new CRELs to non-residents grew to MOP152.2 million. The monthly average of new CRELs approved between July and September 2022 was MOP1.8 billion, a decrease of 67.5% from the previous period (June to August 2022). LV
